CANADA STOCKS-TSX may open lower after soft U.S retail data

Fri Apr 12, 2013 8:40am EDT
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April 12 (Reuters) - Toronto's main stock index looked set to open lower on Friday, mirroring its U.S. counterpart, following the release of unexpectedly soft U.S. retail sales data.


* U.S. retail sales contracted in March for the second time in three months, a sign the American economy may have stumbled at the end of the first quarter.

* Output at euro zone factories rose greater than expected in the month of February on a jump in energy production, a sign of growing demand giving hope the currency bloc will return to growth this year.

* Cyprus is considering putting EU structural funds to earlier use to help its stricken economy but is not asking for a bigger bailout from the euro zone and the International Monetary Fund than the agreed 10 billion euros, EU officials said.

* JPMorgan Chase & Co posted an increase in first-quarter profits as the bank benefited from lower expenses.

* Canadian dollar-store operator Dollarama Inc reported a 21 percent rise in quarterly profit as it sold more items priced above C$1.00 and it raised its dividend by 27 percent.

* U.S. drugmaker Eli Lilly and Co plans to layoff about 1,000 domestic sales representatives to reduce costs, as it faces daunting generic competition, the Wall Street Journal reported, citing a person familiar with the matter.   Continued...