CANADA STOCKS-TSX may open higher, Fed meet in focus

Wed Dec 12, 2012 8:14am EST
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Dec 12 (Reuters) - Canada's main stock index looked set to open higher on Wednesday, as investors bet the U.S. Federal Reserve will unveil a fresh round of stimulus for the economy.


* The U.S. Federal Reserve is expected to announce a fresh round of bond buying as part of its efforts to support a fragile economic recovery threatened by political wrangling over the government's budget.

* Cenovus Energy Inc said it expects to produce nearly 14 percent more oil next year as it ramps up output at its Christina Lake oil sands project in northern Alberta.

* Range Resources Corp said it expects capital spending to fall 19 percent to $1.3 billion in 2013, with nearly 85 percent of the budget going to its oil and liquids-rich operations in the Marcellus and Horizontal Mississippian shale fields.

* Avon Products Inc said it will cut about 1,500 jobs globally and will exit the South Korea and Vietnam markets as part of a turnaround plan announced in November.

* DuPont boosted its 2012 forecast and announced a $1 billion stock buy-back on Tuesday, a positive sign that demand has begun to improve slightly for the company's Kevlar, Corian and other products.


* Canada stock futures traded up 0.34 percent   Continued...