CANADA STOCKS-TSX to open sharply lower on Bernanke comments, China data

Thu Jun 20, 2013 8:39am EDT
 
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June 20 (Reuters) - Canadian stock market futures fell more than 1 percent on Thursday, pointing to a sharply lower open, after Fed Chairman Ben Bernanke signaled a clearer timeline for the central bank to begin to curb its monetary easing policy.

TOP STORIES

* Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year.

* China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening the risk of a sharper second quarter slowdown and increasing the heat on the central bank to loosen policy.

* The euro zone's private sector slump has eased more than expected this month, business surveys showed, but a continued slide in new orders suggested a full recovery is still some way off.

* Lloyds Banking Group must plug a capital shortfall of 8.6 billion pounds, Britain's banking regulator said, a day after the government signaled plans to return the part-state owned lender to the private sector.

* Micron Inc reported a better-than-expected quarterly profit as prices for its memory chips rose, and said it was "optimistic" that its acquisition of bankrupt Japanese chipmaker Elpida Memory Inc would close in the current quarter.

MARKET SNAPSHOT   Continued...