CANADA STOCKS-TSX may open higher; U.S. retail sales, earnings eyed

Tue Jan 14, 2014 8:45am EST
 
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Jan 14 (Reuters) - Canada's main stock index looked set to open higher on Tuesday despite some disappointing U.S. earnings pre-announcements in the previous session that fuelled worries that the upcoming reporting season may disappoint.

TOP STORIES

* Germany's world-beating current account surplus most likely hit a new record in 2013 of about $260 billion as much of its earnings from exported goods was invested abroad rather than spent at home, the Ifo think tank said.

* JPMorgan Chase & Co JPM.N reported a better-than-expected adjusted quarterly profit as the biggest U.S. bank kept a lid on costs and set aside less money to cover bad loans. The bank, which had agreed to pay $2.6 billion to settle government and private claims over its handling of accounts of fraudster Bernie Madoff, said fourth-quarter net income fell 7.3 percent to $5.28 billion, or $1.30 per share.

* Media company Corus Entertainment Inc's quarterly profit nearly tripled after the company gained from the recent acquisition of specialty television services.

* Charter Communications Inc on Monday formally offered to acquire larger rival Time Warner Cable for $37.3 billion, sparking what is likely to be a contentious battle for control of the No. 2 U.S. cable operator.

* Google Inc took its biggest step to go deeper into consumers' homes, announcing a $3.2 billion deal to buy smart thermostat and smoke alarm-maker Nest Labs Inc, scooping up a promising line of products and a prized design team led by the "godfather" of the iPod.

MARKET SNAPSHOT   Continued...