CANADA STOCKS-TSX may open lower on weak commodities, Alcoa miss
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]
FACTORS TO WATCH
* 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 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.
COMMODITY PRICE MOVES Continued...