CANADA STOCKS-TSX may open lower, Europe debt costs a concern

Mon Jun 18, 2012 8:51am EDT
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June 18 (Reuters) - Canada's main stock index looked set to open lower, as initial excitement over a victory for Greece's pro-bailout parties faded and the focus returned to investor worries about the rising cost of borrowing in Spain and Italy.


* Euro zone paymaster Germany, relieved at a narrow election victory for Greece's pro-bailout parties, signaled it may be willing to grant Athens more time to meet its fiscal targets to avert a catastrophic euro exit.

* World leaders, relieved that pro-bailout parties won a narrow election victory in Greece, will pile pressure on Europe at the G20 summit on Monday to outline a lasting strategy to save the euro currency and end financial turmoil.

* China's home prices dipped for the eighth straight month in May but the pace of decline eased, fanning talk that the market may be bottoming out and that recent monetary stimulus could set the stage for a rebound.

* Yamana Gold will buy Extorre Gold Mines Ltd for C$412.9 million in a cash-and-stock deal, it said.

* Fairfax Financial Holdings Ltd's : RiverStone runoff unit will buy Brit Insurance Ltd of London from Brit Group for about $300 million to expand in the reinsurance market.

MARKET SNAPSHOT   Continued...