CANADA STOCKS-TSX may open lower after Fed hints at early taper

Wed Aug 7, 2013 8:18am EDT
 
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August 7 (Reuters) - Canada main stock market looked set to open lower on Wednesday after U.S. Federal Reserve officials hinted the central bank would trim its monetary stimulus program as early as next month. TOP STORIES

* The Bank of England said it planned to keep interest rates at a record low until unemployment falls to 7 percent or below, something unlikely for another three years.

* Valeant Pharmaceuticals International Inc raised its full-year adjusted profit outlook and reported a second-quarter profit, boosted by sales in its skincare acquisitions.

* Air Canada reported a jump of nearly three-fold in second-quarter operating profit as margins improved, and said capacity will increase in the current quarter.

* Brookfield Property Partners LP will buy a privately held U.S. real estate company from Japan's Kajima Corp in a C$1.1 billion deal that will increase its industrial real estate portfolio.

* Glencore Xstrata and JPMorgan Chase & Co face a U.S. lawsuit, along with the London Metal Exchange, alleging they artificially inflated aluminium prices, in the second legal challenge related to metal warehousing in a week.MARKET SNAPSHOT

* Canada stock futures traded down 0.2 percent

* U.S. stock futures , , were down around 0.3 percent to 0.19 percent

* European shares, were down COMMODITY PRICE MOVES   Continued...