CANADA STOCKS-TSX may open lower, Fed taper concern weighs

Thu Dec 12, 2013 8:29am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Dec 12 (Reuters) - After recording its biggest single-day fall in 5-1/2 months in the previous session, Canada's main stock index looked set to open lower on Thursday as speculation about the timing of the Federal Reserve's stimulus program continued to weigh on investor sentiment.


* Bondholders and large depositors in a failing European bank face losses from the start of 2016, European Union negotiators agreed on Wednesday, in a deal to spare taxpayers from further bailouts.

* Samsung Electronics Co Ltd lost its bid to ban sales of Apple Inc's older iPhone and iPad in South Korea after a court dismissed a lawsuit claiming the U.S. firm had infringed on three of Samsung's mobile patents.

* Fortis Inc has reached a friendly deal to buy Arizona-focused utility UNS Energy Corp for about $2.5 billion in cash, the power company said on Wednesday, as it looks to expand its presence in the United States.

* BRP Inc, the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, reported a 52 percent rise in quarterly profit, driven by strong shipments of snowmobiles worldwide, and it raised its full-year adjusted profit forecast.

* Travel operator Transat AT Inc's quarterly profit more than tripled as better pricing boosted margins.

* Freeport McMoRan Copper & Gold warned that Indonesia's plan to ban mineral exports from next month would cut the firm's revenues in the country by 65 percent, costing Southeast Asia's biggest economy $1.6 billion in lost revenue next year.

MARKET SNAPSHOT   Continued...