CANADA STOCKS--TSX may open lower on Italian crisis

Thu Feb 13, 2014 8:29am EST
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Feb 13 (Reuters) - Canada's main stock index looked set to open lower on Thursday as a fresh crisis in the Italian government coupled with disappointing European corporate results hit investor sentiment.


* Italian Prime Minister Enrico Letta faces a showdown with his own centre-left party on Thursday that could lead to his resignation and the appointment of Democratic Party leader Matteo Renzi as head of a new government within days.

* Canadian plane and train maker Bombardier Inc reported a lower-than-expected quarterly profit due to a fall in gross margin and forecast a slowdown in revenue growth at its rail unit this year.

* Barrick Gold Corp reported a big fourth-quarter loss on Thursday as it took another impairment charge, cut its gold reserve estimate by 26 percent and said a key cost measure might rise this year.

* Manulife Financial Corp reported a 20 percent rise in fourth-quarter profit as stronger mutual fund sales and a C$350 million gain on the sale of its Taiwan insurance business offset weaker insurance sales, but results still fell short of estimates.

* Encana Corp, Canada's largest natural gas producer, reported a smaller-than-expected fall in quarterly operating profit as the company ramped up production of liquids such as light oil and condensate.

MARKET SNAPSHOT   Continued...