CANADA STOCKS-TSX may open lower on growing China concerns

Fri Oct 25, 2013 8:18am EDT
 
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Oct 25 (Reuters) - Canada's main stock index was set to open lower on Friday as expectations of continued U.S. monetary stimulus was eclipsed by worries that tighter cash markets in China could put the brakes on the world's second-largest economy.

TOP STORIES

* Microsoft Corp cruised past Wall Street's quarterly profit and revenue forecasts on Thursday, helped by strong sales of its Office and server software to businesses, sending its shares up more than 5 percent after hours.

* Sinopec Group, the parent of top Asian refiner Sinopec Corp, wants to sell half of its two biggest shale gas acreages in Canada to spread costs and accelerate their development, as the Chinese energy company focuses increasingly on return of investment, an executive said.

* German business morale dropped for the first time in six months in October, underscoring the fragility of a recovery in Europe's largest economy that is widely expected to pick up momentum next year.

* Samsung Electronics Co Ltd's quarterly operating profit surged 26 percent to a new record, matching estimates and powered by a strong recovery in its memory chip business as smartphone sales growth eases sharply.

MARKET SNAPSHOT

* Canada stock futures traded down 0.12 percent   Continued...