CANADA STOCKS-TSX may open lower, U.S. earnings eyed

Tue Jan 8, 2013 8:26am EST
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Jan 8 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday, tracking Wall Street, as investors remained cautious with hours to go before the start of the U.S. corporate earnings season, which could influence the market's near-term direction.

Investors could also focus on a European Central Bank's policy meeting and economic data from China due later in the week.


* Business morale in the euro zone improved again in December, but unemployment hit a new record and households held back from spending before Christmas, suggesting the bloc's emergence from recession will be slow.

* China's annual economic growth may have quickened to 7.8 percent in the fourth quarter a Reuters poll showed, snapping seven straight quarters of weaker expansion, but the recovery is likely to be tepid and the economy may need continued policy support.

* Barrick Gold Corp has ended talks to sell a stake in majority-owned African Barrick Gold to a Chinese buyer, dashing hopes of a potential $3 billion deal for the underperforming unit.

* Samsung Electronics, the world leader in mobiles and memory chips, said it likely earned a quarterly profit of $8.3 billion, as it sold close to 500 handsets a minute and as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc products.


* Canada stock futures traded down 0.01 percent   Continued...