CANADA STOCKS-TSX may open higher on positive euro zone data

Fri Feb 14, 2014 8:22am EST
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Feb 14 (Reuters) - Canada's main stock index looked set to extend an eight-day rally on Friday as investors took cheer from evidence of a gradual acceleration in euro zone growth and a resolution to Italy's most recent political crisis.


* Slightly stronger-than-expected growth in Germany and France pushed the euro zone's recovery up a gear in the fourth quarter and offered potential for a more robust 2014, albeit with risks.

* Italian centre-left leader Matteo Renzi forced party rival Enrico Letta to resign as prime minister on Thursday after criticizing his government's failure to pass major reforms, opening the way for Italy's third administration in a year.

* Enbridge Inc reported a fourth-quarter loss, mainly due to losses on hedging contracts.

* Fairfax Financial Corp said on Thursday it had a loss in the fourth quarter, as its equity hedges lost money in a strong market.

* West Fraser Timber Co Ltd reported a slight decline in adjusted fourth-quarter profit on Thursday as higher lumber prices were outweighed by reduced shipments.

MARKET SNAPSHOT   Continued...