CANADA STOCKS-TSX may open higher on earnings, ECB rate cut hopes

Wed Apr 24, 2013 8:29am EDT
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April 24 (Reuters) - Canadian stock index futures pointed to a higher open, supported by some stronger-than-expected North American corporate earnings and data from Germany that boosted hopes of a European Central Bank rate cut.


* Apple Inc on Tuesday bowed to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade.

* Barrick Gold Corp reported an 18 percent drop in first-quarter profit on lower metal prices and volumes, and cut its capital spending for this year. But Barrick shares rose in pre-market trading.

* Canadian Pacific Railway Ltd reported a 53 percent rise in first-quarter profit as freight revenue rose and it improved its efficiency.

* Cenovus Energy Inc reported a higher first-quarter operating profit as margins at its U.S. refineries improved.

* Metro Inc more than tripled its second-quarter earnings, helped by an after-tax one-time gain of C$266.4 million related to the sale of 10 million shares of Alimentation Couche-Tard Inc.

* MEG Energy Corp reported a first-quarter loss, compared with a profit a year earlier, after a weaker Canadian dollar and lower prices overshadowed higher production.   Continued...