CANADA STOCKS-TSX may open higher, though concerns about Cyprus weigh

Tue Mar 26, 2013 8:30am EDT
 
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March 26 (Reuters) - Canadian stock index futures pointed to a higher open on Tuesday, supported by some investors taking advantage of a recent drop in prices, though concerns that the Cyprus rescue deal could be used as a template to restructure other euro zone banking problems could put a lid on gains.

TOP STORIES

* Banks in Cyprus will remain closed until Thursday, and even then subject to capital controls to prevent a run on deposits, after a European Union bailout that the country's president assured his people was in their best interests.

* Richard Fisher, President of the Dallas Federal Reserve, repeated his call for the U.S. central bank to slightly reduce its bond purchasing program.

* Two of the most prominent U.S. investors could upset Michael Dell's $24.4 billion buyout bid for Dell Inc, after billionaire Carl Icahn opened the door to an alliance with Blackstone Group LP to wrest control of the computer maker from its founder.

* SBM Offshore SBMO.AS and its partners have won a $3.5 billion contract from Brazilian oil company Petrobras (PBR) to build two oil platforms, the Dutch maritime services firm said.

* Japanese companies have sharply curtailed overseas acquisitions in the first three months of 2013 in a sign the recent slide in the yen could be taking some of the steam out of a record boom in outbound deals.

MARKET SNAPSHOT   Continued...