Stocks are looking a bit weaker on the open today. Trading may be hampered by a holiday in the bond markets on both sides of the border due to Remembrance Day here and Veteran’s day in the U.S.. And there’s no major economic news to inspire or spook traders.

European stocks are down with weakness in financials leadingthe way. Stocks such as Credit Suisse Group, Allianz AG and Lloyds TSB are down on fears that they might have losses. Telecom firm, Pirelli SpA, is cutting 6% of its workforce due to slow demand. The London FTSE is down 30 points to 4005. The Paris CAC 40 has dropped seven points to 3051. And, in Berlin, the DAX is 20 points weaker at 3059.

Overnight in Asia, stocks were weak. The Nikkei lost 230 points to 8460. The Hang Seng is 190 points lower at 9581.

In M&A news, Laboratory Corp. of America Holdings, the second-biggest U.S.
lab company, is buying Dianon Systems Inc. for about US$598 million in cash.

Meanwhile, Canadian Medical Laboratories announced that as part of its previously disclosed strategy to divest of its U.S. pharmaceutical research
operations, it has concluded the disposal of its interest in Summit Research
Network Management.

Placer Dome Inc. is forecasting a dramatic increase in its gold production next year. In 2003, Placer Dome expects to produce 3.5 million ounces of gold, up from the 2.5 million ounces forecast for this year, due primarily to added production expected from the acquisition of AurionGold. The company expects to generate $450 million in cash flow from operations, and
operating earnings of $375 million.