CANADA STOCKS-TSX may open lower after soft U.S. economic data

Tue Feb 18, 2014 8:59am EST
 
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Feb 18 (Reuters) - Canada's main stock index, which touched its highest level in nearly three years in the previous session, looked set for a weaker start on Tuesday after data showed manufacturing activity in New York state slowed in February.

TOP STORIES

* Generic drugmaker Actavis Plc said it would acquire specialty pharmaceuticals company Forest Laboratories Inc in a cash and stock deal valued at about $25 billion.

* Duke Energy Corp reported a rise in quarterly earnings, helped by lower costs and regulatory approvals of requests to raise utility rates.

* British inflation last month fell below the Bank of England's target level for the first time in over four years, further bolstering the BoE's message that there is no rush to raise interest rates.

* Global miner BHP Billiton topped market forecasts with a 31 percent rise in first-half profit and hinted it may launch a share buyback in August, despite a cautious outlook on Chinese growth.

MARKET SNAPSHOT

* Canada stock futures traded lower   Continued...