CANADA STOCKS-TSX may open higher in a light trade

Wed Jul 4, 2012 8:37am EDT
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July 4 (Reuters) - Canadian equity futures pointed to a higher open, a day after Toronto's main stock index recorded its biggest single-day gain of 2012 on hopes the European Central Bank and its global peers will soon ease policy to revive flagging growth.

Trading volumes were expected to remain light on account of the U.S. holiday.


* The euro zone's private sector downturn eased only slightly in June as companies slashed prices, according to business surveys on Wednesday that supported expectations the European Central Bank will cut interest rates this week.

* Canadian exchange operator TMX Group said on Wednesday its proposed acquisition by a consortium of Canadian financial institutions has won approval from Canada's top securities regulator, the Ontario Securities Commission.

* Bob Diamond squares up to critical British lawmakers on Wednesday, a day after quitting as Barclays' CEO over an interest rate rigging scandal, and could drag the Bank of England, government and rival banks deeper into the affair.

* Nine of the largest global banks on Tuesday expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills".

* Most major automakers showed stronger-than-expected U.S. June sales gains as low interest rates, falling gas prices and still-significant incentives encouraged consumers to set aside concerns about the economy.   Continued...