CANADA STOCKS-TSX may open higher, euro zone still a concern

Tue Sep 25, 2012 8:42am EDT
 
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Sept 25 (Reuters) - Canada's resource heavy main stock index looked set to open higher on Tuesday, helped by strength in commodities, though gains might be capped by uncertainty over a possible Spanish bailout and report that Bundesbank lawyers were checking the legality of the European Central Bank bond-buying plan.

TOP STORIES

* Greece may seek a rollover of its ECB-held bonds or try to raise additional short-term debt to plug a possible financing gap in the coming years, a deputy finance minister said in a document released.

* Chancellor Angela Merkel said that Europe could only hope to come out of its crisis stronger and compete in a globalised world if its members pressed ahead with painful reforms and moved to more responsible budget policies.

* German Economy Minister Philipp Roesler said that purchases of sovereign bonds by the European Central Bank could pose a medium-term risk and that adherence to strict conditionality was important.

* The European Central Bank and Germany's Bundesbank are examining the legality of the ECB's new bond-buying program, a German newspaper said, pointing to another possible barrier to moves to end the euro zone debt crisis.

* Cellphone maker Nokia unveiled two new affordable touch-screen cellphone models to defend its mass market position while it struggles to compete in high-end smartphones.

MARKET SNAPSHOT

* Canada stock futures traded up 0.06 percent   Continued...