CANADA STOCKS-TSX may open lower on disappointing euro zone data

Wed May 15, 2013 8:21am EDT
 
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May 15 (Reuters) - Canada's main stock index looked set to open lower after data showed euro zone contracted for the sixth straight quarter, marking its longest recession since 1995.

TOP STORIES

* Germany's economy crept back into growth at the start of the year but not enough to stop the euro zone from contracting for a sixth straight quarter. France slid back into recession.

* The Bank of England upgraded its growth outlook modestly 0nd penciled in a faster fall in inflation.

* First Majestic Silver Corp cut its 2013 capital expenditure by 16 percent due to a decline in silver prices and warned it could make further cuts later in the year.

* VimpelCom, with assets in Russia, Italy and various emerging markets, reported a 28 percent rise in first-quarter earnings as it cut costs, but profits lagged market expectations.

* Wal-Mart Stores Inc stepped up Bangladesh factory inspections while U.S. and European retailers pursued separate accords to try to prevent another disaster in a garment industry where more than 1,200 workers have died in the past six months.

MARKET SNAPSHOT   Continued...