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

* U.S. stock futures , , were up around 0.07 percent to 0.23 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 286.1707; fell 0.31 percent

* Gold futures : $1,373.3; fell 1.66 percent

* US crude : $93.9; fell 0.42 percent

* Brent crude : $103.8; rose 0.12 percent

* LME 3-month copper : $7,155; fell 0.6 percent

ANALYSTS' RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* Copper Mountain : BMO cuts target to C$2 from C$3.50 after first-quarter results, says the company continues to face challenges in attaining design capacity and working capital remains weak

* Glacier Media : RBC cuts target price to C$1.75 from C$2 following weaker-than-expected first-quarter results

* Glentel Inc : Canaccord Genuity cuts price target to C$22 from C$23 following first-quarter lower-than-anticipated results

ON THE CALENDAR

* Major Canadian economic data includes Canadian and foreign securities

* Major U.S. events and data includes consumer price index, real earnings, housing starts, building permits and initial and continuing claims

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