Stocks are looking to open mixed Wednesday, with some strength in techs, but weakness settling over the broader market. Energy stocks look weaker after oil services firm Schlumberger Ltd. said it will take a US$3.17 billion charge this quarter to write down some assets.

Kimberly-Clark has cut its fourth-quarter profit forecast. Also, Raytheon Co. is weaker after it replaced its CFO following sanctions from the U.S Securities and Exchange Commission for selective disclosure.

In economic news, Canada’s industrial capacity utilization rate came in at 83.3% for the third quarter. Strong exports and new home construction boosted the rate of capacity use 0.8% from the second quarter. This third consecutive quarterly increase, although smaller than the first two, brings the rate within range of the last peak of 85.5%, reached in the third quarter of 2000. Capacity use rose in 16 of the 21 manufacturing industries and in the construction and electrical energy industries. The forestry and logging industry and the mining and oil and gas extraction industry made less use of their production capacity.

Also, the New Housing Price Index increased 0.5% in October from September. Compared with October 2001, this index of contractors’ selling prices increased 4.7%, the largest year-to-year increase since March 1990. Low interest rates and job growth have continued to buoy the strong demand for new housing. Increases in the cost of skilled labour and building materials are major contributors to mounting prices nationally.

In other economic news, Saudi Arabia’s oil minister says that OPC must cut production to avoid weaker prices.

Bank of America Corp. is buying 24.9% of Santander Central Hispano SA’s Mexican bank for US$1.6 billion in cash. Ad, the ongoing battle over Credit Lyonnais has seen Credit Agricole SA boosting its stake in the bank to give it more control than rival BNP Paribas SA.

BNP is one of the leading stocks in Europe today, joined by Dutch insurer Aegon NV, which saw Capital Group International Inc. buy 1.5% of the firm. The FTSE is 50 points higher at 3,975. The CAC 40 has gained 23 points to 3,165. And, the DAX is down nine ticks to 3,159.

Overnight, stocks were weaker in Asia. The Nikkei dropped 77 points to close at 8,728. The Hang Seng lost 73 points to finish at 9,785.

In M&A news, Fording Inc. announced that suitor, Sherritt Coal Acquisition Inc., will seek to postpone the meeting to consider converting the firm into an income trust. Fording intends to oppose the move.

Also, Biovail Corporation has acquired Pharma PASS LLC, an Irvine, Ca. company, and Pharma PASS SA, a company based in France,. Pharma PASS is a developer of advanced oral controlled release technologies. Both companies were purchased for approximately $190 million.