CANADA STOCKS-TSX may open higher, buoyed by upbeat China data

Thu Nov 22, 2012 8:37am EST
 
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Nov 22 (Reuters) - Canada's main stock index looked set to open higher on Thursday, extending gains from the previous session, as positive data emerging out of manufacturing surveys in China and the United States helped boost confidence and euro zone PMI data was not as bad as anticipated.

TOP STORIES

* The euro zone economy is on course for its deepest downturn since early 2009, while Chinese factories returned to growth last month bringing better news for the world economy, business surveys showed.

* European Union negotiators believe they are close to securing British and German backing for a deal on nearly a trillion euros of spending over the next seven years, but last minute concessions may be needed to secure French and Polish support.

* Spain will start tapping markets for money to cover its 2013 financing needs, a burden that many investors think will eventually force it to seek aid from its euro zone partners.

* Forget that Turkey trot. Thanksgiving is now the start of the annual U.S. holiday shopping endurance race, as more stores open on Thursday's national holiday to seek a bigger share of spending that is expected to grow slowly this season.

* Falling home prices and an uptick in household income made Canadian home ownership slightly more affordable in the third quarter, but the longer-term trend is largely unchanged, according to a report by RBC Economics released.

MARKET SNAPSHOT   Continued...