CANADA STOCKS - Factors to watch on Sept 22

Mon Sep 22, 2008 8:57am EDT
 
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TORONTO, Sept 22 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may get a boost from strength in resources, but U.S. futures point lower [ID:nN22260126] and profit taking is likely after the benchmark made its biggest percentage gain since the aftermath of the October 1987 stock market crash.

Here is some of the news that could influence the market. Reuters has not verified the accuracy of press reports.

GOLDMAN (GS.N: Quote), MORGAN STANLEY (MS.N: Quote)

Goldman Sachs Group Inc and Morgan Stanley give up investment bank status of two decades and seek shelter with the U.S. Federal Reserve to become bank holding companies in a move to survive the financial storm. [ID:nSP4331]

BIG BAILOUT

Investors await details on Washington's planned $700 billion bailout plan for a sweeping mop up aimed at taking toxic mortgage debt of balance sheets. [ID:nN21839395]

CANADA SHORT SALES BAN

Canada's largest provincial securities watchdog will follow other international authorities with a temporary ban on short-selling certain financial stocks. [ID:nN19311825]

MANULIFE (MFC.TO: Quote)   Continued...