CANADA STOCKS-TSX may open lower on China monetary policy fears

Wed Oct 23, 2013 8:26am EDT
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Oct 23 (Reuters) - Canadian stock index futures pointed to a lower open on Wednesday, ahead of the Bank of Canada's interest rate decision, as concerns about the prospect of tighter Chinese monetary policy weighed on investor sentiment.


* The European Central Bank promised on Wednesday to put top euro zone banks through rigorous tests next year, staking its credibility on a review that aims to build confidence in the sector.

* Canadian Pacific Railway Ltd, Canada's No. 2 rail operator, reported a 45 percent jump in third-quarter profit as freight revenue rose and operating costs fell.

* Encana Corp reported its second straight quarterly profit as its oil and natural gas liquids volumes nearly doubled.

* Canadian National Railway Co, the focus of fresh scrutiny after one of its trains derailed and caught fire last weekend, reported a market-beating third-quarter profit and record revenue on Tuesday, as it announced a two-for-one stock split and share buyback plan.

* GlaxoSmithKline's drug sales in China tumbled 61 percent in the third quarter, hit by a bribery scandal that has damaged its ability to market medicines in the country.

MARKET SNAPSHOT   Continued...