CANADA STOCKS-TSX may rise on EU summit surprise; RIM to drag

Fri Jun 29, 2012 8:52am EDT
 
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June 29 (Reuters) - Canada's main stock index was set to rise for a fourth straight session, boosted by stronger commodities, which rose after euro zone leaders agreed to measures to cut borrowing costs in Spain and Italy and recapitalise the region's banks.

TOP STORIES

* Euro zone leaders agreed on Friday to bend their aid rules to shore up banks and bring down the borrowing costs of stricken members like Italy and Spain, in a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis.

* Research In Motion Ltd delayed the make-or-break launch of its next-generation BlackBerry phones until next year, in a devastating setback to the once-dominant technology company whose sales are crumbling.

* Euro zone inflation held steady at a 16-month low in June, in line with expectations and keeping the door open for the European Central Bank to cut interest rates as a dramatic fall in oil prices helps take the pressure off consumer prices.

* Canadian Pacific Railway named Hunter Harrison as chief executive, months after the company's top shareholder pitched for the former CEO of rival Canadian National Railway .

* Anheuser-Busch InBev, the world's biggest brewer, will swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest in a string of deals by big brewers looking for growth in emerging markets.

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