CANADA STOCKS-TSX may rise on recent upbeat global data; investors eye Cameco

Mon Feb 11, 2013 8:32am EST
 
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Feb 11 (Reuters) - Canada's main stock index looked set to open higher on Monday, tracking its U.S. counterpart, as encouraging global economic data last week offset worries about political tensions in the euro zone.

TOP STORIES

* Cameco reported sharply lower quarterly profit on Friday after taking a C$168 million write-down on an Australian exploration project, and said the current quarter would likely produce weaker earnings as well.

* With the road ahead looking a bit smoother, G20 finance ministers will be happy to ignore the wreck in the rear-view mirror when they meet this week to steer a course for the world economy.

* U.S. regulators have dealt a major blow to Novo Nordisk's hopes for its new long-acting insulin Tresiba by demanding the Danish drugmaker conduct more clinical tests to assess potential heart risks.

* US Airways Group Inc and AMR Corp are nearing an $11 billion merger that would create the world's largest airline and could announce a deal within a week, after resolving key differences on valuation and management structure, people familiar with the matter said.

* Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company, a move that could potentially net the former chief executive a $2.51 billion windfall.

MARKET SNAPSHOT   Continued...