CANADA STOCKS-TSX may open lower on weak euro zone data

Thu May 16, 2013 8:25am EDT
 
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May 16 (Reuters) - Canada's main stock index looked set to open lower as weak euro zone consumer inflation figures overshadowed positive data that showed Japan's economy grew faster than expected.

TOP STORIES

* Japan's economy expanded at a rapid clip at the start of the year, the first hard evidence that Prime Minister Shinzo Abe's sweeping stimulus is beginning to rouse consumers and businesses into action.

* A senior official at the U.S. Federal Reserve said he believed the central bank should reduce asset purchases from next month.

* Falling prices in Germany and France pulled euro zone consumer inflation to a three-year low in April while imports fell 10 percent in March, as new data showed the depth of the bloc's downturn.

* Wal-Mart Stores Inc posted a higher quarterly profit even as sales fell 1.4 percent at U.S. stores open at least a year. . And Kohl's Corp reported a 5 percent drop in first-quarter profit on lower sales.

* Cisco Systems Inc posted a higher than expected quarterly profit and said current-quarter revenue could increase, giving some relief to investors who had worried it was being hurt by weak technology spending.

MARKET SNAPSHOT

* Canada stock futures were down 0.24 percent   Continued...