CANADA STOCKS-TSX may open lower on Europe, China, RIM

Wed May 30, 2012 8:39am EDT
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May 30 (Reuters) - Canada's main stock index looked set to open lower on Wednesday, tracking global markets, on reports that China is not planning a large stimulus package and as rising Italian and Spanish bond yields heightened fears about the euro zone's debt crisis.

The latest troubles of Research In Motion will also weigh.


* Research In Motion Ltd has hired bankers for a far-reaching strategic review and to look for partnerships as the BlackBerry-maker warned it would likely report a shock fiscal first-quarter operating loss.

* The euro zone should move to a banking union and consider directly recapitalising banks from its permanent bailout fund, the European Commission said in annual economic recommendations that shone a critical light on Spain.

* China does not need massive fiscal stimulus to stabilize growth and calm investors fretting that the global economy may slip back into a similar crisis as 2008-2009, top policy advisers said.

* Italy paid a high price for Spain's troubles when its 10-year bond borrowing costs topped 6 percent at auction, the highest level since January.

MARKET SNAPSHOT   Continued...