CANADA STOCKS-TSX may open lower on Chinese data and Portugal crisis

Wed Jul 3, 2013 8:38am EDT
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July 3 (Reuters) - Canada's main stock index looked set to open lower on Wednesday, pulled down by disappointing services sector data from China and a political crisis in Portugal.


* China's services sector expanded modestly in June with the vast construction industry acting as a drag on output, in a further sign that the world's second-largest economy is losing momentum.

* The euro zone economy looks on course to stabilise in the second half of this year, even if a return to outright growth is still a while off, business surveys suggested.

* Two more Portuguese ministers from the junior ruling coalition party were ready to resign, local media said, deepening turmoil that could trigger a snap election and derail Lisbon's exit from an EU/IMF bailout.

* A federal judge has approved HSBC Holdings Plc's record $1.92 billion settlement with federal and state investigators of charges that it flouted rules designed to stop money laundering and thwart transactions with countries under U.S. sanctions.

* Toyota Motor Corp, said it was recalling around 185,000 vehicles globally, including the Yaris compact, owing to a glitch in the electric power steering system that could make the steering heavier.

MARKET SNAPSHOT   Continued...