CANADA STOCKS-TSX may open lower as commodity prices slip

Tue Apr 30, 2013 8:39am EDT
 
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April 30 (Reuters) - Canada's main stock index looked set open lower as commodity prices slipped, but hopes for further monetary stimulus from the Federal Reserve, which starts its two-day monetary policy meeting later in the day, and the European Central Bank could provide support.

TOP STORIES

* Inflation in the euro zone has fallen to a three-year low and unemployment hit a new record, cementing expectations of an interest rate cut by the European Central Bank later this week.

* BP Plc profits beat analyst expectations by almost $1 billion in the first quarter, helped by two new oilfields and a strong performance from its trading division.

* Thomson Reuters Corp reported a 7 percent decline in first-quarter operating profit because of severance costs and a decrease in revenue at its Financial & Risk division, which caters to banking clients.

* Suncor Energy Inc first-quarter operating profit beat analyst expectations, boosted by higher oil sands production and better profitability in refining and marketing.

* State-backed Lloyds Banking Group reported a jump in first-quarter profits on the back of improved margins and lower costs, and raised the amount it expects to save from shrinking the bank.

MARKET SNAPSHOT   Continued...