CANADA STOCKS-TSX may open higher on OECD report, Japan data

Mon Jun 10, 2013 8:26am EDT
 
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June 10 (Reuters) - Canada's main stock index looked set to open higher on Monday as expectations of economic improvements in Japan and the United States overshadowed concerns of an economic slowdown in China.

TOP STORIES

* The major developed economies are gradually gaining momentum, led by faster growth in Japan and the United States, the OECD said.

* Risks are rising that China's economic growth will fall further in the second quarter and that full-year forecasts will be cut further, after weekend data showed weakness in May exports and domestic activity struggling to pick up.

* Japan's current account surplus doubled in April from a year earlier, and the economy grew at a much quicker pace than previously estimated, an encouraging sign for the government's aggressive policies to stimulate growth even as recent market turbulence raised doubts about its strategy.

* Air Canada said it is moving ahead with plans to trim its costs by up to some 15 percent over the medium term, even as it pushes ahead with plans to boost its system capacity over the coming year.

* AstraZeneca is to buy U.S. respiratory drug specialist Pearl Therapeutics for up to $1.15 billion as Britain's second biggest drugmaker steps up a drive to rebuild its product pipeline via deal-making.

MARKET SNAPSHOT

* Canada stock futures traded up 0.16 percent   Continued...