CANADA STOCKS-TSX set to open higher despite China worries

Wed Mar 12, 2014 8:27am EDT
 
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March 12 (Reuters) - Canada's main stock index was set to open higher on Wednesday, reversing losses in the previous session, even as commodities dropped on worries about the Chinese credit market.

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* A fall in copper to near four-year lows compounded increasing concern about China's economic slowdown, sending a wave of unease through world financial markets.

* European Union member states have agreed on the wording of sanctions on Russia, including travel restrictions and asset freezes against those responsible for violating the sovereignty of Ukraine, according to a draft document seen by Reuters.

* China's first domestic bond default has shaken the copper market, stoking worries that financing deals that have locked up vast quantities of copper could unravel.

* A new free trade agreement with South Korea will throw a wrench into Canada's auto sector recovery, union leaders and an automaker warned on Tuesday, highlighting the pressure on an industry struggling with competition from Mexico.

  Continued...