CANADA STOCKS-TSX may open higher after ECB cuts rates

Thu Nov 7, 2013 8:37am EST
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Nov 7 (Reuters) - Canadian stock index futures pointed to a higher open on Thursday after the European Central Bank cut interest rates to a new record low, in response to a sharp fall in inflation last week.


* The European Central Bank cut rates as below-target inflation sparked fears the euro zone's economic recovery could stall.

* The Bank of England left policy unchanged, sticking to its commitment to keep interest rates low until the recovery is more firmly established.

* BCE Inc, Canada's biggest telecom company, posted a 35 percent slump in quarterly profit, hurt by costs related to its $3 billion acquisition of Astral Media earlier this year.

* Coffee and doughnut chain Tim Hortons Inc reported an 8 percent rise in quarterly profit as same-store sales improved slightly in the United States.

* Manulife Financial Corp, Canada's largest life insurer, reported a third-quarter profit that just beat analysts' expectations, driven by strong wealth and mutual fund sales and higher bond yields.


* Canada stock futures traded up 0.42 percent   Continued...