CANADA STOCKS-TSX may open lower; euro zone data weighs

Wed Aug 8, 2012 8:43am EDT
 
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Aug 8 (Reuters) - Canada's resource-heavy main stock index looked set to open lower on Wednesday, led by a fall in commodity prices, as appetite for riskier assets lost steam on disappointing euro zone data and doubts about early central bank action to tackle declining global growth.

TOP STORIES

* German imports fell sharply for the second time in three months in June and exports also dropped, data showed, adding to signs the single currency bloc's crisis is beginning to hurt Europe's largest economy.

* Britain's economy will barely grow this year and may have taken a bigger hit from the euro zone debt crisis than thought, the Bank of England said, but it gave little indication that it would rush to pour further stimulus into the economy.

* BCE Inc reported a surge in its quarterly profit on Wednesday, as strong results from its wireless and media arms spurred Canada's largest telecom player to also lift its full-year earnings outlook and dividend payout.

* Air Canada said operating earnings fell 14 percent for the second quarter as labor disruptions and closure of its plane maintenance contractor weighed on the results.

* Canadian miner Nevsun Resources Ltd's quarterly profit rose 12 percent as it realized higher prices for gold sold, and the company raised its gold production forecast for the year.

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