CANADA STOCKS-TSX may open lower, China data weighs

Fri Aug 10, 2012 8:25am EDT
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Aug 10 (Reuters) - Canadian stock futures pointed to a lower open as European and Asian equity markets tumbled after an unexpected narrowing in China's trade surplus fueled concerns about global economic growth.


* Chinese data dealt policymakers fresh blows on Friday as trade and new bank lending suggested pro-growth policies have been slow to gain traction and more urgent action may be needed to stabilize the economy.

* International Business Machines Corp has considered buying Research In Motion's enterprise division, Bloomberg reported On Friday, citing two unnamed sources.

* British factory gate inflation eased to the slowest pace in nearly three years in July, data showed, indicating that price pressures in Britain are easing and supporting the Bank of England's view of a fall in consumer price inflation.

* Oil producer Penn West Petroleum Ltd's second-quarter profit fell and the company cut its capital spending and production forecast for the year as oil prices continue to fall due to excess supply in the United States and global economic uncertainties.

* Magna International Inc, one of the world's biggest auto parts manufacturers, reported a 24 percent jump in quarterly profit on Thursday and said it was buying the controlling, minority stake in its electric car business.


* Canada stock futures traded down 0.06 percent   Continued...