CANADA STOCKS-TSX may open lower; China data drags

Thu Jan 23, 2014 9:17am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Jan 23 (Reuters) - Canada's main stock index looked set to extend the previous session's losses on Thursday as weaker-than-expected manufacturing data from China overshadowed strong economic figures from the euro zone.


* The global economy started 2014 on a disjointed note, with the euro zone's private sector in better shape than expected and China's vast manufacturing industry contracting for the first time in six months.

* Carl Icahn has taken a stake in eBay Inc and is proposing a spinoff of its fast-growing PayPal division. The e-commerce company rebuffed the overture, setting the stage for a potential battle with the activist investor.

* Top U.S. weapons maker Lockheed Martin Corp reported a lower-than-expected profit after charges linked to U.S. defense budget cuts and workforce reductions, but said it expected higher earnings this year.

* Lenovo Group Ltd said it would buy IBM Corp's server business for $2.3 billion as the Chinese PC company grabs another piece of the computing world in a long-awaited deal.

* Nokia reported a 22 percent fall in sales at its core NSN network equipment division, highlighting the problems facing management once it completes the sale of its former flagship phones business to Microsoft for 5.4 billion euros.


* Canada stock futures traded down 0.27 percent.   Continued...