CANADA STOCKS-TSX may open higher on strong euro zone data

Tue May 14, 2013 8:25am EDT
 
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May 14 (Reuters) - Canada's main stock index looked set to open flat to slightly higher as strong euro zone factory output figures overshadowed weaker-than-expected German ZEW sentiment.

TOP STORIES

* German analyst and investor sentiment edged up in May after a sharp drop in April, suggesting the euro zone's largest economy is overcoming concerns over a flare-up in the bloc's debt crisis and is back on track to a timid recovery.

* The European Central Bank clashed with Germany over how quickly the euro zone should set up a full banking union, calling for it to be ready by mid-2014 after Berlin declared it wanted a slower pace.

* Verizon Wireless will pay parents Verizon Communications and Vodafone Group Plc a dividend of $7 billion in June, surprising some analysts who had not expected a big payout.

* Chinese state-controlled power equipment maker XD Group is in early talks to buy General Electric Co's joint venture with Mexico's Xignux SA for up to $1 billion, a person familiar with the discussions told Reuters.

* Japanese display maker Sharp Corp, a supplier to Apple Inc, will aim to boost sales to the iPhone maker's rival Samsung Electronics Co under a three-year rehabilitation roadmap after posting a worse-than-expected $5.4 billion net loss in the last financial year.

MARKET SNAPSHOT

* Canada stock futures traded up 0.01 percent   Continued...