CANADA STOCKS-TSX to open lower on Greece deal delays

Thu Feb 16, 2012 8:56am EST
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Feb 16 (Reuters) - Toronto's main stock index looked set to open lower on Thursday, tracking global markets as another delay in cementing a crucial bailout for Greece underscored how far Europe is from resolving the debt crisis.

Separately, Moody's warned that it may cut the credit ratings of a group of top financial institutions, compounding worries for the market.


* Canadian equity futures pointed to a lower open.

* U.S. stock index futures pared losses on Thursday after jobless claims unexpectedly fell last week to a near four-year low, another sign of improvement in the labor market.

* European bourses sold off, with further delays in the bailout deal without which Greece could face a messy default sending risk aversion to one-month highs and hitting bank shares.


* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.44 percent in early trade.

* Brent crude steadied around $119 after hitting multiple-month highs in the previous day as fears of a delay in a second bailout package for Greece weighed down global markets.   Continued...