CANADA STOCKS-TSX may open higher on Fed's commitment on monetary policy

Fri Jul 12, 2013 8:35am EDT
 
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July 12 (Reuters) - Canadian stock index futures pointed to a higher open on Friday as the U.S. Federal Reserve's commitment to maintain a highly accommodative monetary policy for some time continued to support markets.

TOP STORIES

* China's finance minister signaled that Beijing may be willing to tolerate economic growth in the second half of the year significantly below 7 percent, marking the most sobering comment to date from a senior policymaker on the country's slowdown.

* JPMorgan Chase & Co reported a 31 percent rise in quarterly profit as trading revenue rebounded and the biggest U.S. bank by assets avoided another "London Whale" derivatives loss.

* France's Schneider Electric was in talks about a 3.3 billion pound deal for Invensys, sending shares in the British group soaring on hopes others could still enter the fray.

* Chinese cellphone chip designer Spreadtrum Communications Inc agreed to be acquired by a unit of government-owned Tsinghua Holdings Co Ltd for a raised offer price of about $1.78 billion, the companies said.

MARKET SNAPSHOT

* Canada stock futures traded up 0.36 percent   Continued...