CANADA STOCKS - Factors to watch on Sept 25

Thu Sep 25, 2008 8:51am EDT
 
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TORONTO, Sept 25 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may face pressure on Thursday as commodities sag and U.S. economic bellwether General Electric (GE.N: Quote) slashed its profit outlook.

But hopes over a deal on the U.S. bailout plan may calm the jittery market. Here is some of the news that could affect the market. Reuters has not verified and does not vouch for the accuracy of press reports.

GE CUTS OUTLOOK

Industrial conglomerate General Electric (GE.N: Quote), widely seen as a gauge for the U.S. economy, cut its earnings forecast and halted its buyback plans, blaming turmoil in the financial services market. [ID:nN25394000]

TANGANYIKA OIL TYK.TO

Chinese oil firm Sinopec Group has agreed to buy Tanganyika Oil Co Ltd, a small producer of heavy oil in Syria, for C$31.50 a share in a deal valuing the firm at C$2.07 billion. [ID:nHKG194242]

BAILOUT DEAL NEAR?

Congress looked close to reaching a deal to approve a $700 billion plan to rescue the U.S. financial system and President George W. Bush called an emergency meeting to hammer out details. [ID:nSP335584] For more stories, see [ID:nN13574113]   Continued...