CANADA STOCKS-TSX may open lower on doubts about EU Summit

Wed May 23, 2012 8:29am EDT
 
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May 23 (Reuters) - Toronto's main stock index was set for a lower open on Wednesday, after the index posted its biggest one-day gain in six weeks on Tuesday, as scepticism about the outcome of a European Union summit rose.

TOP STORIES

* Bank of Montreal's second-quarter profit rose 27 percent, helped by the 2011 acquisition of U.S. lender Marshall & Ilsley.

* European leaders will try to breathe life into their stricken economies at a summit over dinner, but disagreement over a plan for mutual bond issuance and other measures to alleviate two years of debt turmoil has already been laid bare.

* Canaccord Financial reported a fiscal fourth-quarter net loss, hurt by lower revenues from its trading and investment banking businesses, and higher costs tied to restructuring and acquisition-related items.

* Canadian Pacific Railway : Locomotive engineers and conductors at the company went on strike early on Wednesday after failing to reach a contract agreement, a union body said, shutting down freight operations on Canada's second-biggest railroad.

MARKET SNAPSHOT

* Canada stock futures traded down 0.89 percent   Continued...