CANADA STOCKS-TSX may open lower on U.S. fiscal cliff concerns

Wed Nov 28, 2012 8:43am EST
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Nov 28 (Reuters) - Toronto's main stock index looked set to open lower on Wednesday, tracking its biggest trading partner, as concerns over U.S. lawmakers' lack of progress in dealing with the U.S. fiscal cliff dented investor sentiment.


* Euro zone central banks may decide to roll over their holdings of Greek debt to reduce by 5.6 billion euros the amount governments will need to provide Athens by 2016, according to a document obtained by Reuters.

* Abu Dhabi National Energy Co will buy a number of BP's North Sea assets for over $1.3 billion in a sign relations between Britain and the Gulf emirate are on the mend.

* President Barack Obama on Tuesday launched a public relations push for his bid to raise taxes on wealthy Americans, but U.S. lawmakers remained deadlocked over dramatic, year-end tax increases and spending cuts known as the "fiscal cliff."

* Canadian IT services company CGI Group Inc reported a fourth-quarter loss due to costs associated with its acquisition of Logica.

* Canada's Research In Motion Ltd has lost a contract dispute over the use of Nokia patents in a case which could halt sales of its BlackBerry phones if it does not reach a deal to pay royalties to the Finnish company.

* China's state-owned CNOOC Ltd and its Canadian takeover target Nexen Inc have withdrawn and resubmitted an application for U.S. approval of their $15.1 billion deal, as Canada gets close to its decision on whether to approve the transaction.

MARKET SNAPSHOT   Continued...