CANADA STOCKS-TSX may open lower on Fed's tapering decision

Fri Jan 31, 2014 8:28am EST
 
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Jan 31 (Reuters) - Canada's main stock index on Friday pointed to a lower open on concerns surrounding the impact of the Federal Reserve's stimulus taper on emerging markets. TOP STORIES

* Google Inc's quarterly revenue beat Wall Street's target despite an ongoing decline in prices for its online ads and deepening losses at Motorola, the handset-making division to be sold to China's Lenovo.

* Canadian National Railway Co reported higher quarterly earnings on Thursday, saying its full-year volumes and revenue hit record highs, but the results were tempered by extreme winter weather in December and came in slightly below estimates.

* Euro zone consumer prices dropped in January, bucking market expectations for a rise and providing a possible trigger for further easing by the European Central Bank to sustain a fragile recovery and ward against deflation.

* Canadian Oil Sands Ltd said on Thursday fourth-quarter profits fell 12 percent due to higher expenses and a bigger foreign exchange loss.

* Microsoft Corp is likely to appoint its cloud-computing head, Satya Nadella, as its next chief executive, a source familiar with the matter said on Thursday, as the board concludes a five-month search for a tech-savvy heavy-hitter to lead the world's largest software company.MARKET SNAPSHOT

* Canada stock futures traded down 0.74 percent

* U.S. stock futures , , were down around 0.33 to 0.70 percent

* European shares, were down COMMODITY PRICE MOVES   Continued...