CANADA STOCKS-TSX may open lower, ECB outlook eyed

Thu Feb 7, 2013 8:35am EST
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Feb 7 (Reuters) - Canada's main stock index looked set to open flat to lower on Thursday, as investors await comments from European Central Bank President Mario Draghi on the region's growth outlook.


* Mario Draghi faces a grilling over the European Central Bank's sensitivity to a sharp rise in the euro and his connection to an Italian banking scandal after a policy meeting at which policymakers left interest rates unchanged.

* The Bank of England made no change to its amount of stimulus for the economy at a policy meeting though it voted to reinvest 6.6 billion pounds of its current bond holdings due to mature in March.

* Air Canada reported a fourth-quarter operating profit, helped by tighter cost controls, and said it would launch premium economy services on international flights as it tries to attract more business travelers.

* BCE Inc reported higher profits, helped by earnings growth in its wireless and media divisions as well as an investment gain, and the company also boosted its dividend.

* Teck Resources reported a sharp drop in fourth-quarter earnings as higher copper sales failed to offset the impact of sagging coal prices.

* Manulife Financial Corp rebounded to a fourth-quarter profit from a year-before loss on the back of tax and investment gains, as well as stronger sales of insurance and wealth products, it said.

MARKET SNAPSHOT   Continued...