CANADA STOCKS-TSX may open higher amid U.S. budget caution

Wed Dec 11, 2013 8:35am EST
 
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Dec 11 (Reuters) - Canada's main stock index looked set to extend the previous session's gains on Wednesday even as a U.S. provisional two-year budget agreement compounded expectations the Federal Reserve will start scaling back its stimulus soon.

TOP STORIES

* A bipartisan budget deal announced in the U.S. Congress on Tuesday, though modest in its spending cuts, would end three years of impasse and fiscal instability in Washington that culminated in October with a partial government shutdown.

* Canadian department store operator Hudson's Bay Co posted a bigger third-quarter net loss, mainly due to costs related to its acquisition of U.S. retailer Saks, but reported slightly higher same-store sales from its Lord & Taylor chain.

* Encana Corp, Canada's largest natural gas producer, said it would boost liquids production by 30 percent in 2014 as part of new Chief Executive Doug Suttles' plan to focus spending on regions rich in gas liquids and oil.

* Canadian National Railway : The rail operator said on Tuesday it is targeting double-digit percentage growth of earnings per share in 2014, and expects capital spending to rise about 5 percent to C$2.1 billion next year.

MARKET SNAPSHOT

* Canada stock futures traded up 0.05 percent   Continued...