CANADA STOCKS-TSX set to open lower as RIM, Europe fears weigh

Fri Sep 16, 2011 8:43am EDT
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Sept 16 (Reuters) - Canada's main stock index was set to open lower on Friday, hurt by disappointing results from BlackBerry maker Research In Motion Ltd RIM.TO and concern about the outcome of a euro zone finance ministers meeting in Poland.

RIM reported a steep drop in second-quarter profit on limp sales of its smartphones and tablets, and offered investors little hope of a turnaround anytime soon. [ID:nS1E78E1MR]


* Canadian equity futures <0#SXF:> pointed to a lower open.

* U.S. stock index futures were lower after equities notched four days of gains and as European policymakers gathered to discuss the region's debt crisis, while Research in Motion weighed on the technology sector after a weak earnings report. [.N]

* European shares rose early, adding to their rally following central bank action to boost liquidity and ahead of a meeting between U.S. Treasury Secretary and European finance ministers to discuss leveraging the euro zone's bailout fund. [.EU]

* Asian stocks were mostly up with the Nikkei rising more than 2 percent, posting its biggest daily percentage gain since March. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.3 percent in early trade.   Continued...