CANADA STOCKS-TSX may open lower on weak euro zone data; Barrick in focus

Thu Feb 14, 2013 8:53am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Feb 14 (Reuters) - Toronto's main stock index looked set to open lower on Thursday, as economic data showing the euro zone's recession deepened threw a first quarter recovery into doubt and rattled European shares.

TOP STORIES

* The euro zone slipped deeper into recession in the last three months of 2012 after its largest economies, Germany and France, shrank markedly at the end of the year.

* Barrick Gold reported a quarterly loss, after booking a $3.8 billion impairment charge to write down the value of its Lumwana copper asset. Even so, its shares were slightly higher in pre-market trading.

* Rio Tinto's new chief signaled he would slash costs, focus on selling weak assets and spend more carefully after the world's no.3 miner reported a $3 billion full-year loss, its first ever.

* Cenovus Energy Inc reported a fourth-quarter operating loss as it wrote down the value of its natural gas assets in southeast Alberta, and said it expects more pressure on costs this year due to higher fuel and power prices.

* Encana Corp, Canada's largest natural gas producer, posted a 28 percent rise in fourth-quarter operating profit, helped by its hedging program.

* Pepsico reported a higher quarterly profit, helped by increases in sales volume and prices.   Continued...