CANADA STOCKS-TSX set to open higher, central bank hopes support

Thu May 30, 2013 8:55am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

May 30 (Reuters) - Canada's main stock index looked set to reverse previous session's losses on Thursday after U.S. economic data reduced fears that the U.S. Federal Reserve will soon scale down its bond-buying program.


* Confidence in the euro zone economy grew by more than expected in May, with hope that the worst of the crisis may be over spreading to countries that have been on its frontline.

* A Berkshire Hathaway Inc unit will pay $5.6 billion for NV Energy Inc, the electric utility serving Las Vegas and its power-hungry casinos, in yet another large energy deal for Warren Buffett in the western United States.

* RBC profit rises 26 percent on stronger lending Royal Bank of Canada said that its quarterly profit rose 26 percent on stronger lending volumes and lower loan-loss provisions.

* Canadian Imperial Bank of Commerce reported an 8 percent rise in quarterly profit, due largely to lower provisions for bad loans and higher wholesale banking income.

* Samsung Electronics Co unveiled a stripped down version of its flagship Galaxy S4 smartphone, aiming to grab a bigger share in the mid-tier segment as growth in the high-end market slows.

MARKET SNAPSHOT   Continued...