CANADA STOCKS-ECB comments might push TSX higher

Thu Jul 26, 2012 8:16am EDT
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July 26 (Reuters) - Toronto's main stock index looked set to open higher on Thursday, after European Central Bank President Mario Draghi said the central bank will do whatever is necessary to protect the euro, triggering speculation that some major central banks will move to boost the slowing world economy.


* European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone from collapse, including acting to lower unreasonably high government borrowing costs.

* Barrick Gold Corp, the world's largest gold miner, on Thursday reported a 35 percent decline in second-quarter profit and warned capital costs on one of its biggest growth projects will be much higher than previously forecast.

* Potash Corp, the world's largest fertilizer maker, reported a 38 percent drop in second-quarter profit on Thursday, mainly due to one-time charges and weaker results from its phosphate business.

* MEG Energy Corp, a Canadian oil sands company, reported a 70 percent fall in quarterly operating profit on lower bitumen prices.

* U.S. Silver Corp, which has agreed to be bought by RX Gold & Silver Inc, said it was evaluating a hostile offer from Hecla Mining Co.

* Weaker oil and gas prices took their toll on Royal Dutch Shell's second-quarter profits while extra maintenance costs on high-margin U.S. Gulf production drove earnings below analysts' expectations.

MARKET SNAPSHOT   Continued...