CANADA STOCKS-TSX may open lower after soft U.S., euro zone data

Thu Apr 26, 2012 8:41am EDT
 
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April 26 (Reuters) - Toronto's main stock index looked set to open lower on Thursday, as lingering worries over the economic outlook for the euro zone and soft U.S. data weighed on investors' sentiment.

TOP STORIES

* New U.S. claims for unemployment benefits fell slightly last week but a trend reading rose to its highest since January, the latest sign of a weaker pace of healing in the still-struggling labor market.

* Euro zone economic sentiment fell more than expected in April, driven by more pessimistic industry and services sectors, European Commission data showed, as the economy sinks into recession.

* Potash Corp of Saskatchewan Inc, the world's largest fertilizer maker, reported a 33 percent profit drop on Thursday due to lower sales and production volumes, which in turn led to higher costs.

* Precision Drilling Corp posted its seventh consecutive quarterly profit on higher dayrates and activity in United States, but the No. 1 oil and gas driller in Canada cut its 2012 budget partly on delays in certain projects.

* Husky Energy Inc on Wednesday posted a 6 percent decline in first-quarter profit as a result of lower natural gas prices and tighter refining margins.

MARKET SNAPSHOT

* Canada stock futures traded down 0.13 percent   Continued...