CANADA STOCKS-TSX may extend gains on ECB bond buying

Fri Sep 7, 2012 8:11am EDT
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Sep 7 (Reuters) - Toronto's main stock index looked set to open higher on Friday, as global markets draw support from the European Central Bank's bond buying plan and the prospect of a lasting solution of the euro zone's debt crisis.


* After some outsized gains and losses in the past five months, most economists expect Canada's job market to settle down to a pattern of slow growth.

* The European Central Bank agreed on Thursday to launch a new and potentially unlimited bond-buying programme to lower struggling euro zone countries' borrowing costs and draw a line under the debt crisis.

* Germany's conservative newspapers accused ECB chief Mario Draghi of writing a "blank cheque" to troubled euro zone states that could put the entire currency at risk, with top-selling Bild warning his policies could make the euro "kaputt."

* Commodity trader Glencore has raised its offer for miner Xstrata to salvage a bid, now worth about $37 billion, that appeared to be heading for the rocks after Xstrata shareholder Qatar held out for more.

* Canada will study CNOOC's $15.1 billion bid for oil producer Nexen particularly closely because the deal is large and the Chinese oil company is a state-owned enterprise, Prime Minister Stephen Harper said on Thursday.

* Canadian yogawear retailer Lululemon Athletica Inc reported a higher quarterly profit on Friday as sales rose.

* Canada's Excellon Resources Inc, which in August declared a force majeure at its silver mine in Mexico due to a blockade at the site, said the Mexico government canceled Thursday's scheduled meeting with local land holders.   Continued...