CANADA STOCKS-TSX may open higher, helped by corporate earnings

Tue Apr 23, 2013 8:37am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

April 23 (Reuters) - Canada's main stock index looked set to open higher as strong earnings at some U.S. companies improved sentiment, even as some Canadian corporate results showed signs of weakness.


* China and Germany, the world's two biggest exporters, showed new signs of weakness in major business surveys, increasing doubt about the strength of global demand and economic recovery.

* Encana Corp, Canada's No.1 natural gas producer, reported a 25 percent fall in first-quarter operating profit due to hedging losses.

* Teck Resources Ltd, Canada's largest diversified miner, reported a 40 percent fall in first-quarter adjusted profit due to lower coal prices, and said economic uncertainty may affect prices and shipments.

* Contract electronics manufacturer Celestica Inc reported a 76 percent fall in first-quarter profit, hit by the loss of its once-biggest customer, Blackberry.

* Lockheed Martin Corp, the Pentagon's biggest weapons supplier, reported a better-than-expected 14.8 percent increase in net income for the first quarter but warned annual revenues were likely to come in at the low end of earlier guidance due to U.S. budget cuts.

MARKET SNAPSHOT   Continued...