CANADA STOCKS-TSX may open lower on weak commodities, Alcoa miss

Tue Apr 12, 2011 8:45am EDT
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April 12 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday after aluminum maker Alcoa reported revenue that missed forecasts and commodity prices fell.

Investors in the resource-heavy market could be cautious after long-term commodity bull Goldman Sachs advised its clients to take profits, saying there is a strong chance that raw materials will reverse. [MKTS/GLOB]


* Canadian equity futures <0#SXF:> pointed to a lower open.

* All 41 economists and strategists in a Reuters poll released on Thursday expected the Bank of Canada to keep its benchmark interest rate unchanged at 1 percent at their policy announcement on Tuesday. [ID:nN07149592]

* U.S. stocks index futures fell in the wake of a disappointing revenue miss from Alcoa and Japan's upgrade of the severity of its nuclear crisis. [.N]

* European shares fell early after Japan raised the severity of its nuclear crisis to the highest level and Alcoa (AA.N: Quote) missed revenue targets as it kicked off the first-quarter U.S. earnings season. [.EU]

* Asian markets fell with Tokyo stocks dropping for a second straight day, with blue-chip shares among the losers on increasing uncertainties about the earnings outlook after the March 11 earthquake.