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.

TOP STORIES

* 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...