CANADA STOCKS-TSX may open higher on positive Chinese data

Wed Apr 10, 2013 8:32am EDT
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April 10 (Reuters) - Canadian stock index futures pointed to a higher open, buoyed by better-than-expected Chinese trade data, which signaled demand was gathering the pace needed to drive a recovery in the world's second largest economy.


* Chinese imports of key commodities rebounded in March from the month before as hopes of a strengthening economy encouraged end-users to ramp up output and cautiously replenish stocks.

* The White House proposed a budget that sharply trims the U.S. deficit over three years by forcing millionaires to pay more in taxes and enacting spending cuts that replace the "sequester" reductions that went into place last month.

* German premium carmaker Daimler said it might cut its 2013 profit expectations this month, sparking sharp criticism from shareholders gathering for the annual meeting, as Europe's car market shrank at an alarming rate.

* Thermo Fisher Scientific Inc made a binding offer for Life Technologies Corp on Tuesday as private equity firms raced to finalize a consortium to take the genetic testing equipment maker private, several people familiar with the matter said.

* Telecom network equipment maker, DragonWave said it cut 33 percent of its senior management jobs and amended its deal with Nokia Siemens Networks to reduce operating costs.

MARKET SNAPSHOT   Continued...