CANADA STOCKS-TSX may open lower as Germany's growth outlook cut

Fri Dec 7, 2012 8:16am EST
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Dec 7 (Reuters) - Toronto's main stock index looked set to open lower on Friday, after the Bundesbank slashed its growth outlook for Germany while caution ahead of November U.S. jobs data weighed on investor sentiment. Employment trends is on the economic calendar. TOP STORIES

* Jobs growth in Canada likely increased to near the average of the past 12 months in November, a Reuters poll showed, with goods-producing industries seen recovering from a slump.

* Superstorm Sandy likely put a dent in U.S. employment growth in November, temporarily interrupting a recently established trend of modestly rising payrolls.

* Bank of Nova Scotia's quarterly profit rose 31 percent, driven by strong gains in wholesale and international banking.

* The European Central Bank may cut interest rates next year if the euro zone economy does not improve, ECB Governing Council member Jozef Makuch said.

* The central banks of Germany and Austria forecast barely any economic growth in 2013, with the Bundesbank flagging risks of a recession in the euro zone's biggest economy as the debt crisis hits the bloc's core.

* Glencore International Plc received approval from China's Ministry of Commerce for its C$6.1 billion acquisition of Canadian grain handler Viterra Inc, clearing the last regulatory hurdle for the long-delayed deal.

MARKET SNAPSHOT   Continued...