CANADA STOCKS-TSX set to open lower with EU leaders at odds

Wed Jun 27, 2012 8:38am EDT
 
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June 27 (Reuters) - Toronto's resource heavy main stock index looked set to open lower on Wednesday, led by easing commodity prices, due to heightened worries on differences among key leaders in Europe ahead of a major summit.

TOP STORIES

* European leaders sound unusually divided before a high-stakes summit, with Germany's Angela Merkel saying total debt liability would not be shared in her lifetime and giving little support to Italian and Spanish pleas for immediate crisis action.

* Commodities trader Glencore will need to sweeten its $26 billion bid for miner Xstrata or risk losing a deal it has coveted for years after key shareholder Qatar made a late demand for better terms.

* A U.S. judge on Tuesday backed Apple Inc's request to stop Samsung Electronics selling its Galaxy Tab 10.1 tablet in the United States, giving the iPhone maker a significant win in the global smartphone and tablet patent wars.

* Barrick Gold Corp on Tuesday lost a courtroom battle over the ownership of the huge El Morro gold-copper project in Chile, after an Ontario judge dismissed claims filed by Barrick against its smaller Canadian rival Goldcorp Inc .

* Loral Space & Communications Inc has agreed to sell its satellite manufacturing subsidiary, Space Systems/Loral (SS/L) to Canadian communications rival MacDonald, Dettwiler and Associates Ltd for about $875 million.

MARKET SNAPSHOT   Continued...