CANADA STOCKS-TSX may open higher on China factory data

Mon Dec 3, 2012 8:57am EST
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Dec 3 (Reuters) - Canada's main stock index looked set to open higher on Monday, mirroring Wall Street gains as China's stronger-than-expected manufacturing data inspired optimism, though U.S. "fiscal cliff" concerns might put a lid on the gains.


* China's economy picked up in November but a broader global recovery remains fragile and patchy, a clutch of factory surveys suggested, with activity elsewhere in Asia remaining subdued amid depressed demand from the developed world.

* Greece said it would spend 10 billion euros ($13.01 billion) to buy back bonds in a bid to reduce its ballooning debt and unfreeze long-delayed aid, setting a price range above market expectations to ensure sufficient investor interest.

* The contraction in activity at the euro zone's embattled manufacturers eased to an eight-month low in November, although a meaningful recovery still looks a long way off, a survey showed.

* Brazil's Vale SA, the world's second largest mining company, will slash capital expenditures by 24 percent next year, after a drop in iron ore prices led the company to rethink its outlook for expansion.

* European Central Bank governing council member Christian Noyer said that he saw no reason currently to worry that a sharp increase in money pumped into markets by major central banks was inflationary, warning that global economic growth remained sluggish and fragile.


* Canada stock futures traded up 0.13 percent   Continued...