CANADA STOCKS-TSX may open lower, dragged by UK data, Chinese growth fears

Tue Mar 12, 2013 8:36am EDT
 
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March 12 (Reuters) - Toronto's main stock index looked set to open lower as investor sentiment fell on disappointing UK data and fears of a slowdown in Chinese growth.

TOP STORIES

* Intense lobbying by central government agencies and debt-laden local governments is keeping People's Bank of China hawks in check after inflation jumped to a 10-month high, forcing the central bank to keep its monetary policy setting in neutral.

* British manufacturing output fell in January at the fastest pace since June, reinforcing fears that the economy has tipped into its third recession since the 2008 financial crisis.

* The euro zone crisis is not over, France is slipping on reforms and the Bundesbank has set aside billions in new provisions for what it sees as risky European Central Bank moves, Germany's central bank said.

* Copper miner Antofagasta sought to brush off investor worries about its growth options with a better-than-expected 2012 payout and special dividend, as profits ticked higher despite lower copper prices.

* Canadian employers are likely to keep adding jobs in the second quarter but at a slightly slower pace than in the first quarter, with the highest growth in the transportation and utilities sectors, according to a survey.

MARKET SNAPSHOT   Continued...