CANADA STOCKS-TSX may open higher on Chinese data, U.S. earnings

Tue Apr 9, 2013 8:24am EDT
 
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April 9 (Reuters) - Toronto's main stock index looked set to open higher as lower-than-expected Chinese inflation raised hopes of an accommodative monetary policy and the U.S. earnings season got off to a good start.

TOP STORIES

* China's annual consumer inflation cooled in March as food prices eased from nine-month highs and producer price deflation deepened, data showed on Tuesday, leaving policymakers room to keep monetary conditions easy and nurture a nascent recovery.

* Alcoa Inc, the largest U.S. aluminum producer, reported a higher quarterly profit on Monday thanks in part to strength at its raw materials segment, but lower-than-expected revenue and an uncertain outlook dragged down the company's share price.

* German imports fell sharply in February for the third time in the last four months and exports also declined, in a sign the euro zone's largest economy cannot be relied on to help lift the currency bloc out of recession.

* The board of J.C. Penney Co Inc is facing scathing criticism from retail investors and corporate governance experts after ousting Chief Executive Ron Johnson and replacing him with his own embattled predecessor, Myron Ullman.

* French media group Lagardere has sold its 7.4 percent stake in Airbus parent EADS , kicking off a long-expected overhaul in the ownership of Europe's top aircraft maker.

MARKET SNAPSHOT   Continued...