CANADA STOCKS-TSX may open higher, central banks eyed

Mon Aug 27, 2012 8:28am EDT
 
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Aug 27 (Reuters) - Canada's main stock index looked set to open higher on Monday, tracking European and U.S markets, as investors looked ahead to a gathering of central bankers later this week for clues on what officials might agree to support a sagging global economy.

TOP STORIES

* The U.S. Federal Reserve should launch a fresh round of monetary stimulus immediately, buying bonds for as long as it takes to produce a steady decline in the jobless rate, a top Fed official said. * German business sentiment dropped for a fourth month in a row in August to reach its lowest since March 2010, driven down by increasing worries about the outlook for exports. * Angela Merkel tried to calm a growing storm over euro zone crisis strategy on Sunday after the Bundesbank likened ECB bond-buying plans to a dangerous drug and a conservative ally of the German leader said Greece should leave the currency bloc by next year. * Samsung Electronics shares slumped 7.5 percent on Monday, wiping more than $12 billion off the South Korean giant's market value, as a sweeping victory for Apple Inc in a U.S. patent lawsuit raised concerns about its smartphone business. * Canadian gold explorer Inter-Citic Minerals Inc said Western Mining Group Co Ltd has agreed to acquire it for C$250 million in cash to expand its gold mining business. * Spain's economy contracted by more than previously estimated in 2010, and grew by less than first published in 2011, according to revised data from the National Statistics Institute released on Monday.

MARKET SNAPSHOT

* Canada stock futures traded up 0.38 percent

* U.S. stock futures , , were up 0.1 percent to 0.5 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 308.22; rose 0.71 percent   Continued...