CANADA STOCKS-TSX may open slightly lower, RIM to weigh

Fri Dec 21, 2012 8:26am EST
 
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Dec 21 (Reuters) - Toronto stock index futures pointed to a slightly lower open on Friday after a proposal from Republican leader John Boehner failed to gain enough support from his party members, deepening uncertainty over the chances of a U.S. budget deal by year-end.

TOP STORIES

* Research In Motion shares tumbled more than 10 percent on Thursday after the company reported the first ever decline in its subscriber numbers and outlined plans to transform the way it charges for its BlackBerry services.

* Republican lawmakers delivered a stinging rebuke to their leader, House of Representatives Speaker John Boehner, on Thursday when they failed to back an effort designed to extract concessions from President Barack Obama in year-end "fiscal cliff" talks.

* Canadian inflation likely remained tame in November as gasoline prices fell and economic growth remained sluggish, keeping pressure off the Bank of Canada to resume raising interest rates.

* The main unit of media and telecom company Cogeco Inc , said it would buy PEER 1 Network Enterprises Inc for about C$526 million to expand its cloud computing and data hosting services.

* German consumer morale dropped for the fourth month running to its lowest level in more than a year as shoppers become increasingly wary of the effect the euro zone debt crisis is having on Europe's largest economy.

* Siemens AG said it plans to cut almost 1,100 jobs in Germany as the engineering giant trims costs to make its energy operations more profitable.

MARKET SNAPSHOT   Continued...