CANADA STOCKS-TSX set to open lower as commodity prices slip

Thu May 9, 2013 8:49am EDT
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May 9 (Reuters) - Canada's main stock index looked set to open lower on Thursday as commodity prices slipped and investors turned cautious after Chinese inflation rose more than expected.

But North American stock futures did pare losses after data showed U.S. jobless claims fell in the latest week.


* China's annual consumer inflation rose by more than expected in April while factory prices fell for a 14th consecutive month, highlighting the dilemma facing the central bank as it balances support for the economy against the threat of rising prices.

* Britain's central bank kept its powder dry, opting to wait and see if recent initiatives to boost lending will give the country's fragile recovery enough traction.

* Canadian Tire Corp, best-known for its namesake automotive and homeware stores, said it would create a C$3.5 billion real estate investment trust through an initial public offering later this year.

* Bombardier Inc said its CSeries jetliner was on track to make its first flight in June, and reported a 4 percent rise in first-quarter adjusted profit.

* Agrium Inc reported a lower quarterly profit on Thursday, as cold, wet spring weather delayed planting, and it forecast weaker-than-expected earnings for the current quarter.   Continued...