CANADA STOCKS-TSX may open higher ahead of Bernanke's testimony

Wed Jul 17, 2013 8:25am EDT
 
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July 17 (Reuters) - Canada's main stock index looked set to open higher on Wednesday as investors await clues on the life of the U.S. central bank's $85-billion-a-month bond-buying program from Federal Reserve Chairman Ben Bernanke when he testifies to a congressional panel later in the day.

TOP STORIES

* Bank of England Governor Mark Carney and fellow policymakers voted unanimously against more bond purchases earlier this month, surprisingly setting aside their differences ahead of a review on giving guidance about future interest rates.

* Bank of America Corp reported a 70 percent rise in second-quarter profit, helped partly by lower operating expenses.

* BNY Mellon Corp said second-quarter revenue and profit surged on a $184 million pre-tax gain from an equity investment.

* Mattel reported a far weaker-than-expected profit as sales of Barbie dolls fell again, highlighting the iconic brand's struggle to stay relevant.

* Yahoo Inc trimmed its outlook for 2013 revenue after revealing a sharp 12 percent slide in ad prices in the second quarter, signs that CEO Marissa Mayer's attempts to revive the struggling Internet giant may not produce quick results.

MARKET SNAPSHOT

* Canada stock futures traded up 0.06 percent   Continued...