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.


* 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.