CANADA STOCKS-TSX may open lower on weak Chinese data, commodities prices

Mon May 13, 2013 8:23am EDT
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May 13 (Reuters) - Canada's main stock index looked set to open lower, pulled down by falling commodities prices and weak Chinese factory output data.


* China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that the recovery is stalling and adding to pressure on policymakers to stimulate the economy.

* Elan stepped up its bid to keep its independence by agreeing a $1 billion deal to buy 21 percent of the royalties that U.S. company Theravance receives from GlaxoSmithKline for its respiratory drugs.

* SoftBank Corp is playing it rough in its attempt to keep Dish Network Corp from breaking up its $20.1 billion deal to take control of Sprint Nextel Corp.

* Chrysler Group LLC is recalling about 469,000 SUVs worldwide to update software after some circuit boards were found to be transmitting signals that trigger inadvertent gear shifts to neutral, the automaker said Saturday.

* The Obama administration is unlikely to make a decision on the Canada-to-Nebraska Keystone XL pipeline until late this year as it weighs the project's impact on the environment and on energy security, a U.S. official and analysts said on Friday.

MARKET SNAPSHOT   Continued...