CANADA STOCKS-TSX may open higher on solid German data

Tue May 15, 2012 8:53am EDT
 
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May 15 (Reuters) - Toronto's main stock index looked set to bounce off recent 2012 lows on Tuesday on strong German growth, but gains may be capped as euro zone uncertainty kept investors cautious.

TOP STORIES

* Germany's economy confounded expectations by posting robust growth in the first quarter of the year while France could summon up none at all and Italy slid further into recession, data showed.

* Jamie Dimon faces growing calls to give up the chairmanship of JPMorgan Chase & Co when shareholders of the bank convene, days after it revealed losses of billions of dollars in trades that were supposed to protect it from risk.

* Facebook Inc has increased the price range in Silicon Valley's biggest-ever initial public offering to raise more than $12 billion, giving the No.1 social network a valuation potentially exceeding $100 billion.

* Fragrance company Coty Inc withdrew its $10.7 billion takeover bid for Avon Products Inc on Monday, saying the world's largest cosmetics direct seller had missed a deadline to start discussing a deal that Coty first proposed in March.

* South America-focused oil and gas producer Canacol Energy Ltd reported a quarterly profit on higher average daily sales volume. [ID: nL4E8GF69L]

MARKET SNAPSHOT

* Canada stock futures traded up 0.51 percent   Continued...