CANADA STOCKS-TSX may open higher ahead of Fed minutes, Bernanke

Wed May 22, 2013 8:43am EDT
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May 22 (Reuters) - Canada's main stock index looked set to open higher on Wednesday on hopes that the U.S. Federal Reserve will continue with its monetary easing policy, ahead of the release of minutes of its May meeting and testimony from U.S. Federal Reserve Chairman Ben Bernanke.


* Two senior Federal Reserve officials on Tuesday played down the chances that the U.S. central bank would signal a readiness to reduce its bond buying at its meeting next month, dampening speculation the Fed's ultra-easy monetary policy might end soon.

* Growing concern in European capitals about aggressive tax avoidance by high-profile corporations such as Amazon, Google and Apple looks set to steal the agenda of a European Union summit in Brussels.

* Sears Canada Inc posted a loss in the first quarter compared with a profit last year, and named E.J. Bird as chief financial officer.

* Lowe's Cos Inc reported a weaker-than-expected quarterly profit, hurt by colder-than-usual weather at the start of the spring selling season and strong competition from larger rival Home Depot Inc.

* Staples Inc reported a slightly lower-than-expected quarterly profit, hurt by a stronger dollar and weak sales in Europe and Australia.


* Canada stock futures traded up 0.36 percent   Continued...