CANADA STOCKS-TSX set to open lower as gold price slips

Wed Sep 11, 2013 8:46am EDT
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Sept 11 (Reuters) - Canadian stocks looked set to open slightly weaker on Wednesday, with a drop in the price of gold on hopes diplomacy will avert a U.S. military strike on Syria expected to weigh on shares of bullion producers.


* Britain's unemployment rate dropped in July to its lowest since late last year, adding to speculation that the Bank of England may raise interest rates earlier than it has predicted.

* Syria accepted a Russian proposal on Tuesday to give up chemical weapons but U.S. President Barack Obama said it was too early to tell if the initiative would succeed and he vowed to keep military forces at the ready to strike if diplomacy fails.

* European Commission President Jose Manuel Barroso declared that economic recovery was within sight after nearly four years of Europe's debt crisis and urged governments to move faster to complete a stalled banking union.

* The Canadian and Ontario governments said on Tuesday they would sell nearly a quarter of their common shares in General Motors Corp, part of a longer-term plan to shed the stock they acquired in 2009 when they helped the U.S. government bail out the automaker.


* Canada stock futures were lower   Continued...