CANADA STOCKS-TSX may open higher as Summers quits Fed chairman race

Mon Sep 16, 2013 8:44am EDT
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Sept 16 (Reuters) - Canada's main stock index looked set to extend the previous session's gains on Monday after Larry Summers' surprise withdrawal of his candidacy from the race to become the next chairman of the U.S. Federal Reserve raised investors' hopes of a relaxed taper of the central bank's monetary easing policy.


* Former Treasury Secretary Lawrence Summers withdrew on Sunday from consideration to succeed Federal Reserve Chairman Ben Bernanke after fierce opposition from within the Democratic Party hurt his chances of being confirmed in Congress.

* Closer integration of the European financial system with a cross-border body to wind up or restructure failing banks will require a change of the EU treaty eventually, the Bundesbank's vice president said.

* Packaging Corp of America said it would acquire smaller rival Boise Inc for about $1.28 billion to increase its container board capacity.

* Saudi billionaire Prince Alwaleed bin Talal says he will not sell any of his shares in microblogging site Twitter Inc when it goes public, and expects the firm's IPO to hit the market later this year or in early 2014.


* Canada stock futures traded up 0.33 percent   Continued...