CANADA STOCKS-TSX may open higher, euro zone data cheers

Mon Jun 3, 2013 8:45am EDT
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June 3 (Reuters) - Canadian stock futures pointed to a higher open on Monday as investors shifted focus from disappointing Chinese factory data to better-than-expected euro zone manufacturing data which showed the downturn eased markedly last month.


* Euro zone manufacturing contracted again last month, although at a slightly slower pace, while Asian factories lost momentum, underlining the somber prospects for the world economy in the second quarter.

* San Francisco Federal Reserve Bank President John Williams reiterated his view that an improving U.S. economy would allow the Federal Reserve to pare back its stimulatory bond buying, but low inflation needed to be closely watched.

* CVTech Group Inc, which provides services to electric utilities, said it had received and rejected multiple takeover offers from a New York Stock Exchange-listed electrical contractor, after its second largest shareholder wrote to investors that the company was withholding that information.

* Bombardier said on Sunday its new CSeries passenger jet was in good shape to make its crucial maiden flight by the end of June as it prepares to unveil orders for the more fuel efficient jet at the Paris air show.

* A long-running fight comes to a head on Monday when court proceedings begin over an $8.5 billion settlement between Bank of America Corp and investors in mortgage securities that turned sour in the financial crisis.

MARKET SNAPSHOT   Continued...