CANADA STOCKS - Factors to watch on Sept 19

Fri Sep 19, 2008 8:25am EDT
 
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TORONTO, Sept 19 (Reuters) - Canada's S&P/TSX composite index .GSPTSE could open higher on Friday on hopes of a U.S. government plan to defuse a global credit crisis. Here is some of the news that could influence the market.

CREDIT CRISIS MOP UP

U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke plan to work through the weekend with Congress on a plan to deal with toxic assets that have clogged the financial system for a year. [ID:nN13574113]

BAN ON SHORT SALES

The U.S. Securities and Exchange Commission issues emergency order temporarily halting the short selling of hundreds of financial shares -- the practice of borrowing a stock on a bet its price will fall. The measure underscores growing concerns that short selling has led to sharp declines in U.S. and European markets since the onset of the credit crunch. [ID:nN19484907]

NORTEL NETWORKS NT.TO

Scotia Capital cuts Nortel Networks Corp, North America's biggest telephone equipment makers, to sector underperform from sector perform and reduces its price target to C$3.10 from C$8.50. [ID:nWNAS1748]

AIR CANADA ACa.TO

In response to a recent drop in fuel prices, Air Canada said on Thursday it will be the first major North American carrier to drop its extra fee for a second piece of checked baggage. [ID:nN18399545]   Continued...