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.


* 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]


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