CANADA STOCKS-TSX may open higher on hopes of U.S. debt deal

Wed Oct 16, 2013 8:12am EDT
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Oct 16 (Reuters) - Canada's main stock index futures pointed to a higher open on Wednesday on hopes that the U.S. politicians will soon strike a deal to prevent the world's largest economy from defaulting on its debt.


* The U.S. Senate prepared for a last ditch effort to avoid a historic lapse in the government's borrowing authority, a breach that President Barack Obama has said could lead to default and deliver a damaging blow to the global economy.

* Bank of America Corp reported a third-quarter profit of $2.22 billion, compared with a loss a year earlier, as provisions for credit losses fell.

* PepsiCo Inc reported higher quarterly earnings and said it was on track to meet its financial goals for the year, despite global economic pressures.

* BNY Mellon Corp reported a higher-than-expected quarterly profit on rising fees from managing money, increased mutual fund balances and strength in foreign currency trading.

* SNC-Lavalin Group Ltd : The construction and engineering company slashed its full-year profit forecast after it took a nearly C$75 million charge due to previously signed contracts in North Africa and in the hospital and road sectors that turned unprofitable.

MARKET SNAPSHOT   Continued...