CANADA STOCKS-TSX set to open little changed; eye on ECB, U.S. budget talks

Thu Dec 6, 2012 8:54am EST
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Dec 6 (Reuters) - Toronto's main stock index looked set to open little changed on Thursday as investors focused on U.S. budget talks after President Barack Obama said a deal was possible in "about a week" if Republicans compromise on taxes.

Investors were also watching comments from a news conference by European Central Bank President Mario Draghi after the ECB's policy meeting.


* The European Central Bank held its main interest rate at a record low of 0.75 percent, holding off any further policy easing while it assesses the economic outlook and waits for the chance to use its new bond-purchase programme.

* Toronto-Dominion Bank's reported a flat quarterly profit and said it would buy Epoch Holding Corp, which owns Epoch Investment Partners, for $668 million in cash.

* Canadian Imperial Bank of Commerce reported a 13 percent increase in quarterly earnings, driven by higher income from its wholesale banking and wealth management businesses.

* National Bank of Canada's fourth-quarter profit rose 20 percent, driven by a sharp jump in markets-related revenue, and the bank raised its dividend by 5 percent.

* Canadian dollar-store operator Dollarama Inc's third-quarter profit rose 23 percent on higher sales and new store openings.   Continued...