CANADA STOCKS-TSX may open higher on global recovery hopes

Thu Mar 21, 2013 8:50am EDT
 
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March 21 (Reuters) - Canada's main stock index looked set to open slightly higher on Thursday after data showed a pick-up at Chinese factories and the U.S. Federal Reserve pledged to maintain its stimulus program, bolstering hopes for the global economy.

TOP STORIES

* The European Central Bank gave Cyprus until Monday to raise billions of euros to clinch an international bailout or face losing emergency funds for its banks and inevitable collapse.

* Growth in China's vast manufacturing sector picked up in March after a holiday dip, a preliminary survey of factory managers showed on Thursday, pointing towards solid but not spectacular first-quarter growth in the world's second-largest economy.

* The euro zone's economic downturn has deepened this month - even before Cyprus's bailout debacle - creating another headache for policymakers battling to revive the bloc's fortunes, a business survey showed.

* Yogawear retailer Lululemon Athletica Inc said it expected its earnings to fall in the current quarter, hurt by a recall of stretchy pants announced on Monday.

* AstraZeneca's new chief executive announced another 2,300 job cuts in sales and administration on Thursday as he set out his stall for turning round the struggling drugmaker and returning it to growth.

MARKET SNAPSHOT

* Canada stock futures traded up 0.08 percent   Continued...