CANADA STOCKS-TSX may open higher; weak data fuels stimulus hope

Mon Oct 1, 2012 8:26am EDT
 
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Oct 1 (Reuters) - Canada's main stock index looked set to open higher on Monday at the start of the quarter, with investors hoping for aggressive action from central banks after economic data from Asia and Europe showed further signs of slowing global growth.

TOP STORIES

* Euro zone manufacturing put in its worst performance in the three months to September since the depths of the Great Recession, with factories hit by falling demand despite cutting prices, a business survey showed -- pointing to a new recession.

* China's economy offered more evidence of a seventh straight quarter of slowing growth, with an official survey of factory managers remaining in contractionary territory for a second successive month despite improving from August's low.

* Mining group Xstrata gave its long-awaited blessing to a revised $33 billion bid from trader Glencore, bowing to investor pressure by changing the deal to ensure a payment plan to keep its top managers does not sink the tie-up.

* The world's airlines have raised their profit forecasts for 2012 and expect improved performance in 2013 as efforts by North American airlines to trim capacity have boosted margins and demand in Asia has held up despite a weak global economy, the International Air Transport Association said.

* Magna International Inc, one of the world's biggest auto parts manufacturers, said it will buy Germany-based ixetic Verwaltungs GmbH for about 308 million euros to expand its engine and transmission pumps business.

* Keyera Corp said it plans to invest C$210 million to boost recoveries of ethane and other high-margin natural gas liquids at the Rimbey gas plant in west central Alberta.

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