CANADA STOCKS-TSX may open lower as euro zone uncertainty weighs

Tue May 8, 2012 8:39am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

May 8 (Reuters) - Canada's main stock index looked set to open lower on Tuesday, as worries over the political uncertainty in the euro zone crimped investor appetite and pushed commodities lower.


* Greece's Left Coalition party will get an historic chance to form a government opposed to the country's EU/IMF bailout, after the mainstream conservatives failed to cobble together a coalition following shock election results.

* HSBC beat expectations with an underlying first-quarter profit of $6.8 billion as Europe's biggest bank saw a rebound in investment banking, growth in Asia and a fall in U.S. bad debts.

* Franco-Nevada Corp said its first-quarter profit more than doubled, largely driven by high bullion prices.

* Yellow Media Inc posted a C$2.9 billion net loss in the first quarter on an impairment charge and the debt-ridden company began a scramble to refinance debt set to mature from this year.

* The Bank of Canada's low inflation mandate does not prevent it from acting, in exceptional circumstances, to protect overall financial stability, a senior official said on Monday.