CANADA STOCKS-TSX may open higher on strong Chinese and German data

Wed May 8, 2013 8:46am EDT
 
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May 8 (Reuters) - Canada's main stock index looked set to open higher as better-than-expected Chinese trade data coupled with robust German industrial output data boosted the already positive sentiment fed by global equity markets.

TOP STORIES

* China's exports and imports grew more than expected in April, offering the possibility of a better outlook for the world's second-largest economy. But the figures failed to put an end to scepticism that financial maneuvering by exporters and speculative capital inflows are masking weakness in real demand.

* Enbridge Inc reported a 31 percent rise in first-quarter adjusted profit driven by higher volumes.

* Tim Hortons Inc, under pressure from a U.S. hedge fund seeking better returns, named a new chief executive and the company reported a 3 percent fall in first-quarter profit.

* Torstar Corp, the owner of Canada's largest daily newspaper by circulation, posted a 76 percent fall in first-quarter profit as advertisers stayed away from the printed page.

* Quebecor Inc first-quarter profit halved due to higher costs, a sharp drop in media revenue and lower gains on financial instruments.

MARKET SNAPSHOT   Continued...