CANADA STOCKS-TSX may open lower on cut in global growth outlook

Wed Jan 16, 2013 8:23am EST
 
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Jan 16 (Reuters) - Canada's main stock index looked set to open lower as investors turned wary following a sharp cut in the global growth outlook by the World Bank and dismal economic data from the euro zone.

TOP STORIES

* A frustratingly slow economic recovery in developed nations is holding back the global economy, the World Bank said, as it sharply cut its outlook for world growth in 2013.

* The German government cut its 2013 economic growth forecast to 0.4 percent from a previous estimate of 1.0 percent, the Economy Ministry said on Wednesday, confirming earlier reports.

* JPMorgan Chase & Co reported an increase in fourth-quarter profits as the biggest U.S. bank made more home loans.

* Goldman Sachs Group Inc said its fourth-quarter earnings nearly tripled, driven by big gains in stock and bond values, increased revenue from dealmaking and lower compensation expenses.

* Magna International Inc, one of the world's biggest auto parts manufacturers, said it expects total sales of $31.3 billion to $32.7 billion for 2013.

* Japan's two leading airlines grounded their fleets of Boeing 787s after one of the Dreamliner passenger jets made an emergency landing, the latest in a series of incidents to heighten safety concerns over a plane many see as the future of commercial aviation.

* Workers at three of Anglo American Platinum's South African mines went on an illegal strike, the day after the world's top producer of the precious metal announced plans to mothball shafts and cut 14,000 jobs.   Continued...