CANADA STOCKS-TSX may open lower after bullion sinks further

Thu Apr 11, 2013 8:47am EDT
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April 11 (Reuters) - Canada's main stock index looked set to open lower on Thursday, as positive U.S and Chinese economic data was offset by a drop in the price of bullion to a one-week low and fears that the U.S. Federal Reserve might stop its bond buying program by year-end.


* The number of Americans filing new claims for unemployment benefits fell more than expected last week, which could ease fears of a marked deterioration in labor market conditions after a surprise stumble in job growth in March.

* Chinese banks made 1.06 trillion yuan of new local currency loans in March, central bank data showed, well above market expectations and adding to evidence of an economic recovery being fueled by ample credit.

* Personal computer sales plunged 14 percent in the first three months of the year, the biggest decline in two decades of keeping records, as tablets continue to gain in popularity and buyers appear to be avoiding Microsoft Corp's new Windows 8 system, according to a leading tech tracking firm.

* Media company Corus Entertainment Inc reported an 81 percent fall in second-quarter profit due mainly to lower television revenue.

* Yum Brands Inc, the biggest foreign fast-food chain operator in China, is in danger of breaking its 11-year streak of double-digit profit growth as it scrambles to deal with food scares and bird flu in its most lucrative market.

* Protective Life Corp agreed to buy a portfolio of old policies from French insurer AXA SA's U.S. business for $1.1 billion, with the aim of squeezing more value out of them.

MARKET SNAPSHOT   Continued...