CANADA STOCKS-TSX may open higher as Chinese leader talks growth

Wed Dec 5, 2012 8:34am EST
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Dec 5 (Reuters) - Canada's main stock index looked set to open higher on Wednesday, taking cues from global markets, as remarks from Chinese Communist Party chief Xi Jinping raised hopes for stable growth in the world's second-largest economy.


* China will maintain its fine-tuning of economic policies in 2013 to ensure stable economic growth, state television quoted Chinese Communist Party chief Xi Jinping as saying.

* A consortium led by Canadian private equity firm KingSett Capital said it plans to make an offer to acquire Primaris Retail Real Estate Investment Trust in a deal valued at about C$4.4 billion.

* Canadian Pacific Railway Ltd said it would cut 4,500 jobs by 2016 as part of a drive by its new CEO to slash costs and improve its operating efficiency, now the industry's worst.

* A conglomerate controlled by Thailand's richest man, Dhanin Chearavanont, has bought a minority stake in China's Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia's second-largest deal this year.

* Spain fell short of its targeted amount at a triple bond auction, prompting a rise in yields on the secondary market as investors await the government's move to trigger European Central Bank bond-buying.


* Canada stock futures traded up 0.50 percent   Continued...