CANADA STOCKS-TSX may open higher, but focus on U.S. budget talks

Fri Nov 30, 2012 9:03am EST
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Nov 30 (Reuters) - Toronto's main stock index looked set to edge higher at the open on Friday, tracking global markets, but a lack of progress in U.S. budget talks to avert a fiscal crisis looked likely to cap gains.


* German lawmakers approved the latest bailout for Greece on Friday by a large majority despite growing unease about the cost to taxpayers less than a year before federal elections.

* House of Representatives Speaker John Boehner said on Thursday that "fiscal cliff" talks with the White House had made no substantive progress and criticized President Barack Obama and Democrats for failing to get serious about including spending cuts in a final deal.

* The euro zone's crisis is far from over and its members must consolidate their budgets and forge a banking union to put the bloc on a more stable economic footing, the leaders of the IMF and European Central Bank said on Friday.

* The French government and steelmaker ArcelorMittal are aiming to clinch a deal to save jobs and avoid a temporary nationalization of its Florange steel works, government sources said on Friday as a midnight deadline neared.

* Barclays could axe as many as 3,500 investment bank staff and cut its advisory or equities operations in Asia as part of a broader strategic review aimed at fixing the bank's culture in the wake of the financial crisis.

MARKET SNAPSHOT   Continued...