CANADA STOCKS-TSX may open higher in catch up after long weekend

Tue May 21, 2013 8:56am EDT
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May 21 (Reuters) - Canada's main stock index looked set to open slightly higher, catching up with gains in global equity markets following a Canadian long weekend, as investors cautiously awaited the release on Wednesday of minutes from the latest U.S. Federal Reserve meeting.


* British inflation fell twice as fast as expected last month, giving incoming Bank of England governor Mark Carney more leeway to support the economy with more stimulus should the recovery weaken.

* Germany, the euro zone's largest economy, is on track for a solid recovery thanks to a pick-up in demand for its products from abroad, the Bundesbank said.

* Vodafone will reinvest a $3.2 billion dividend from its healthy U.S. arm to counter weakness in southern Europe that contributed to the largest ever quarterly fall in the group's main revenue measure.

* AutoZone Inc reported a 7 percent rise in quarterly profit as costs fell.

* Home Depot Inc reported higher-than-expected quarterly results and raised its sales and profit outlook for the year as it benefited from a nascent recovery in the U.S. housing market.

MARKET SNAPSHOT   Continued...