CANADA STOCKS-TSX set to open higher, eye on BMO, Bernanke

Tue Feb 26, 2013 8:59am EST
 
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Feb 26 (Reuters) - Canadian stock index futures pointed to a slightly higher open on Tuesday, helped by higher-than-expected results and a dividend increase from Bank of Montreal, with investors also looking ahead to testimony from U.S. Federal Reserve Chairman Ben Bernanke.

TOP STORIES

* Bank of Montreal on Tuesday reported its quarterly profit eased as lower loan recoveries at its U.S. retail bank offset higher wholesale banking and wealth management profits.

* The Italian stock market fell and state borrowing costs rose on Tuesday as investors took fright at political deadlock after a stunning election that saw a comedian's protest party lead the poll and no group secure a clear majority in parliament.

* Federal Reserve Chairman Ben Bernanke faces the first of two days of congressional testimony that will subject the Fed's controversial bond-buying program to tough scrutiny and gauge his confidence in the resilience of the U.S. economy.

* Nexen Inc : The contentious $15.1 billion takeover of Canadian oil and gas company Nexen Inc by Chinese state-owned entity CNOOC Ltd closed on Monday, more than seven months after China's largest-ever foreign takeover was announced.

* Improvements in the U.S. housing market and sales tied to Hurricane Sandy helped Home Depot Inc report a higher-than-expected quarterly profit and outshine rival Lowe's Cos Inc for the 15th straight quarter.

MARKET SNAPSHOT

* Canada stock futures traded up 0.03 percent   Continued...