CANADA STOCKS-TSX may open higher on China data; Europe eyed

Tue Jul 24, 2012 8:48am EDT
 
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July 24 (Reuters) - Toronto's main stock index looked set to open higher on Tuesday after Chinese manufacturing data showed signs of improvement, but gains might be limited by weak euro zone data and mounting concerns that Spain may need a full bailout.

TOP STORIES

* Spain paid the second highest yield on short-term debt since the birth of the euro at an auction, reflecting a growing belief that the country will need a full sovereign bailout that the euro zone can barely afford.

* Husky Energy, the integrated oil producer and refiner, reported a 36 percent fall in second-quarter profit on lower production and weaker realized crude oil prices.

* Rogers Communications Inc reported higher adjusted earnings as it boosted revenue and margins in its mobile phone business despite rising competition.

* CIC Energy Corp. : The company said it received an all-cash offer from India's Jindal Steel & Power for C$2 per share, valuing the company's equity at C$116 million. The offer price for CIC Energy represents a premium of 27 percent over Monday's closing price of C$1.57 on the Toronto Stock Exchange.

* DuPont, which makes chemicals, hybrid seeds and Kevlar bulletproof fiber, said that global economic uncertainty would push its 2012 profit to the low end of a previously announced forecast.

MARKET SNAPSHOT

* Canada stock futures traded up 0.09 percent   Continued...