CANADA STOCKS-TSX may open higher on optimism over euro zone

Tue Aug 21, 2012 8:22am EDT
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Aug 21 (Reuters) - Canada's main stock index looked set to open higher as markets remain optimistic that strategy being drawn up by the European Central Bank would help tackle the region's debt crisis.


* China's leading offshore oil producer CNOOC Ltd said its first-half net profit fell by almost a fifth - twice as much as the market had expected - and it cut its dividend by 40 percent to make room for its $15.1 billion acquisition of Canadian oil firm Nexen Inc.

* Glencore's $30 billion bid for miner Xstrata is not a "must-do deal" its chief executive said, in the company's strongest suggestion yet that it will not yield to key shareholder Qatar's demands for an improved offer.

* Spain's short-term borrowing costs dropped at auction as investors bet the European Central Bank will intervene on bond markets, but a lack of detail over when and how it will act meant yields remained punishingly high.

* Britain's government finances veered further off track in July after a shortfall in corporation tax revenues and higher spending led to an unexpected deficit in a month that normally has strong tax receipts.

* Japan's Elpida Memory, which failed earlier this year, said it had submitted a restructuring plan to the Tokyo District Court, as expected following its agreement to be bought by U.S. chipmaker Micron Technology Inc.


* Canada stock futures traded up 0.2 percent   Continued...