May 23, 2013 / 12:52 PM / 4 years ago

CANADA STOCKS-TSX may open lower on Bernanke's comments

3 Min Read

May 23 (Reuters) - Canada's main stock index looked set to open lower on Thursday as comments from Federal Reserve Chairman Ben Bernanke raised fears the U.S. central bank would end its bond-buying program sooner-than-expected.

Top Stories

* Toronto-Dominion Bank quarterly profit rose 2 percent, driven by stronger wholesale banking income, it said.

* The European Central Bank is looking into expanding its range of policy tools, while the U.S. central bank is mulling scaling back its support measures, highlighting the contrasting fortunes between the world's two biggest economic blocs.

* The downturn across euro zone businesses eased slightly this month, although a dearth of new orders means the bloc's economy is likely to contract again in the second quarter, business surveys showed.

* Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services.

* General Motors Co is recalling worldwide more than 27,000 Cadillac crossover vehicles whose wheels could fall off due to potentially loose wheel nuts.

Market Snapshot

* Canada stock futures traded down 0.78 percent

* U.S. stock futures , , were down around 0.74 percent to 0.83 percent

* European shares, were down

Commodity Price Moves

* Thomson Reuters-Jefferies CRB Index : 285.517; fell 0.47 percent

* Gold futures : $1,388.9; rose 1.56 percent

* US crude : $92.83; fell 1.54 percent

* Brent crude : $101.41; fell 1.16 percent

* LME 3-month copper : $7,257.75; fell 2.91 percent

Canadian Stocks to Watch

* Air Canada : EU antitrust regulators accepted concessions from Lufthansa, United Airlines, Air Canada and Continental to ease competition concerns about their transatlantic revenue-sharing pact.

* Canadian Pacific Railway : The Canadian railway company will become a "more aggressive" buyer of short-line regional railroads as it improves its financial performance and operating efficiency, it said on Wednesday.

Analysts' Recommendations

Following is a summary of research actions on Canadian companies reported by Reuters.

* Allana Potash Corp. Paradigm Capital starts with buy rating, says the company has one of the best chances of receiving funding of any potash junior.

On the Calendar

* No major Canadian economic data scheduled

* Major U.S. events and data includes initial claims, FHFA home price, new home sales and Markit manufacturing PMI

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