CANADA STOCKS-TSX set to open lower on Greek, French elections

Mon May 7, 2012 9:05am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

May 7 (Reuters) - Canada's resource heavy main stock index was set to open lower on Monday, tracking global markets, after Greek and French election results hurt investors' appetite for riskier assets.


* Short party for Hollande after French election win: Francois Hollande's honeymoon after his election as France's first centre-left president in 17 years was cut short on Monday by jittery financial markets eager for signals on his policies and how hard he will push back against German-led austerity.

* Greek conservatives begin hunt for governing partners: Greece plunged into turmoil on Monday after shock election results rejected a painful international bailout and left a big question mark over how the country could find a new government and stay in the euro.

* TransGlobe's profit rises on output, oil price: The oil and gas company's quarterly profit rose nearly four times on increased production and higher oil prices.

* Ithaca Energy sets deadline for bids: The oil and gas producer said it remained in dialogue with interested parties and has set a bid deadline after a newspaper reported that Kuwait's national oil company was no longer in talks to buy the Canadian company.

MARKET SNAPSHOT   Continued...