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.


* 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.


* 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


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