CANADA STOCKS-TSX may open slightly lower ahead of Fed; eye on Tim Hortons

Wed May 1, 2013 8:37am EDT
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May 1 (Reuters) - Canada's main stock index looked set to open slightly lower as investors turn cautious ahead of the outcome of the U.S. Federal Reserve's policy meeting later in the session.

But shares of Tim Hortons Inc were expected to rise after Reuters reported that the coffee-and-doughnut chain has come under pressure from a large investor to aggressively boost returns through debt-funded share buybacks and a scaling back of U.S. expansion plans.


* British manufacturing contracted by the narrowest of margins in April, and much less than expected, the first major set of data in the second quarter of the year showed.

* Yamana Gold Inc is aiming to sharply reduce its all-in sustaining costs this year, as it adjusts to a recent drop in bullion prices, its chief executive said on Tuesday.

* Loblaw Cos Inc reported a 40 percent rise in first-quarter profit and said it plans to compete the initial public offering of its real estate investment trust in early to mid-July.

* Talisman Energy Inc posted a quarterly loss as the sale of some North Sea assets hurt production but it said it expected significant growth in higher-margin liquids output in the second half of this year and into 2014.

* Merck reported lower-than-expected first quarter sales, as generic competition hurt demand for its Singulair asthma drug and the stronger dollar hit overseas sales of its medicines.   Continued...