CANADA STOCKS-TSX may open lower on global growth fears

Thu Jan 31, 2013 8:22am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Jan 31 (Reuters) - Canada's main stock index looked set to open lower on Thursday, after the Federal Reserve said in its latest statement that economic growth had stalled and as weak German retail sales data hurt investor sentiment.


* The Federal Reserve on Wednesday left in place its monthly $85 billion bond-buying stimulus plan, arguing the support was needed to lower unemployment even as it indicated a recent stall in U.S. economic growth was likely temporary.

* Potash Corp of Saskatchewan reported a bigger-than-expected 38 percent drop in quarterly profit on Thursday as key potash buyers China and India stayed out of the market, but the company forecast a modest rebound in earnings for 2013.

* Research In Motion Ltd on Wednesday unveiled the long-delayed line of smartphones it hopes will put it on the comeback trail, but it disappointed investors by saying U.S. sales of its all-new BlackBerry 10 devices will not start until March.

* Facebook Inc doubled its mobile advertising revenue in the fourth quarter, a sign that the social network is seeing early success in expanding onto handheld devices as more of its users migrate to smartphones and tablets.

* German retail sales tumbled by their largest amount in over three years in December, preliminary data showed, denting hopes that private consumption can compensate for weaker exports and lift Europe's largest economy this year.

* Spain's Santander has sharply raised provisions against bad loans after defaults rose in its home market and key earnings-driver Brazil, while writedowns on rotten Spanish real estate also contributed to a 59 drop in yearly net profit.   Continued...