CANADA STOCKS-TSX may open lower despite global recovery hopes

Thu Mar 14, 2013 8:29am EDT
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March 14 (Reuters) - Toronto's stock index looked set to open lower even as positive U.S. retail sales helped bolster hopes of a global economic recovery.


* Soaring unemployment and biting austerity will top the agenda at a summit of EU leaders, with the social consequences of the region's debt crisis now seen as the greatest threat to the survival of the single currency.

* President Barack Obama met with his toughest critics in Washington - House of Representatives Republicans - and made little headway in convincing them to accept his demand for tax increases as part of a deficit-reduction deal.

* China's parliament formally elected heir-in-waiting Xi Jinping as the country's new president.

* BlackBerry will offer a solution to separate and secure work and personal data on mobile devices powered by Google Inc's Android platform and Apple Inc's iOS operating system.

* Media and telecommunications conglomerate Quebecor Inc reported a 89 percent fall in quarterly profit after it booked a debt refinancing-related charge and on higher costs.

* Honda Motor Co Ltd will recall nearly 250,000 vehicles globally, including some Acura MDX crossover SUVs, due to braking problems, the automaker said.

MARKET SNAPSHOT   Continued...