CANADA STOCKS-TSX may open higher, Fed and BOC eyed

Tue Jul 17, 2012 8:36am EDT
 
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July 17 (Reuters) - Toronto's main stock index looked set to open higher on Tuesday, on hopes that Federal Reserve Chairman Ben Bernanke might hint at delivering more monetary stimulus even as the Bank of Canada is expected to keep interest rates unchanged.

TOP STORIES

* Federal Reserve Chairman Ben Bernanke serves up a new set of clues this week that might help solve one of the thorniest riddles for the world economy: what will it take to make the U.S. central bank ease monetary policy further?

* Analysts unanimously expect the Bank of Canada to hold its main policy rate at 1 percent on July 17, but the real focus will be on whether it will repeat, dilute or omit the message that it may soon need to raise the rate.

* German analyst and investor sentiment dropped for a third consecutive month in July but slightly less than expected, adding to hopes that Europe's largest economy remains resilient despite a string of weaker data in June, a survey showed.

* British inflation fell to its lowest in more than two and a half years in June helped by early summer sales of clothes and shoes, official data showed on Tuesday, suggesting consumers will be able to spend more and give a rare helping hand to the economy.

* Yahoo Inc picked Google's Marissa Mayer to become its new CEO, turning to an engineer with established Silicon Valley credentials to turn around the struggling former Internet powerhouse.

MARKET SNAPSHOT   Continued...