CANADA STOCKS-TSX may open higher; ECB and Fed eyed

Wed Nov 6, 2013 8:22am EST
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Nov 6 (Reuters) - Canada's main stock index pointed to a higher open on Wednesday as speculation surrounding the European Central Bank's possible rate cut and the U.S. Federal Reserve's monetary easing policy continued.


* Magna International Inc reported a nearly 13 percent rise in quarterly sales as its European business improved.

* Talisman Energy Inc reported a smaller quarterly net loss compared with the year-earlier quarter, when it took a $1.04 billion impairment charge.

* Agrium Inc reported a sharply lower third-quarter profit and a disappointing forecast for the current fourth quarter.

* Toyota Motor Corp is closing in on a record profit set before the Lehman crisis after topping up its annual net profit forecast by nearly $2 billion and outperforming Japanese rivals as its expansion plans bear fruit.

* Penn West Petroleum Ltd said it aims to sell non-core assets worth $1.5 billion to $2 billion before 2015 as part of a plan to focus on fewer fields centered on the Cardium field in Alberta.

* Torstar Corp reported a quarterly loss as it took an asset impairment charge of C$85.5 million related to its media business.

MARKET SNAPSHOT   Continued...