CANADA STOCKS-TSX may open lower, euro zone crisis in focus

Mon Sep 24, 2012 8:43am EDT
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Sept 24 (Reuters) - Canada's resource heavy main stock index looked set to open lower on Monday, following a sharp decline in commodity prices, as investors dumped riskier assets with their focus moving back to Europe's debt crisis.


* German business sentiment dropped for a fifth straight month in September to its lowest since early 2010, raising fears of recession and underlining that a bold bond-buying plan laid out by the European Central Bank is no economic elixir.

* Some of the world's top financial regulators will answer questions in the European Parliament about market manipulation such as the rigging of benchmark interest rate Libor.

* Taiwan's Foxconn Technology Group, Apple's primary vendor, closed its Taiyuan plant in northern China after a personal dispute spiraled into a brawl involving 2,000 workers in a dormitory late on Sunday night, injuring 40.

* Spain will not rush to seek external aid to finance its debt, Economy Minister Luis de Guindos said on Saturday, adding that the country's banks would need 60 billion euros to clean up the toxic property assets on their balance sheets.

* The Chinese fertilizer maker Hanfeng Evergreen reported a fourth-quarter loss primarily due to a C$10.1 million impairment charge on property and equipment.

MARKET SNAPSHOT   Continued...