CANADA STOCKS-TSX may open higher buoyed by Alcoa's outlook

Wed Jan 9, 2013 8:18am EST
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Jan 9 (Reuters) - Canada's main stock index looked set to open higher on Tuesday as investor sentiment got a boost after Alcoa opened the U.S. earnings season with an optimistic outlook for world demand.


* Alcoa Inc, the largest aluminum producer in the U.S., is cautiously optimistic demand for the metal will continue to grow in 2013, helped in part by strong sales to aerospace and construction customers.

* TransCanada Corp, the country's largest pipeline company, said it has been chosen by Progress Energy Canada Ltd to design, build and operate a gas transmission project in British Columbia.

* Eldorado Gold Corp said it will boost gold output by 7 percent to 10 percent in 2013, as it ramps up production at its Efemcukuru mine in Turkey.

* The Federal Reserve's latest stimulus plan will not do much to boost growth and raises the risk of inflation next year, Richmond Fed Bank President Jeffrey Lacker said on Tuesday, echoing remarks he made last week.

* Britain's goods trade deficit narrowed in November as exports rose more than imports, official data showed on Wednesday.

* The Bank of Japan will consider easing monetary policy again this month while also mulling a doubling of its inflation target to 2 percent, sources say, as the economy's weakness threatens to delay its escape from two decades of deflation.

MARKET SNAPSHOT   Continued...