CANADA STOCKS-TSX may open higher on Spain bailout hopes
Oct 11 (Reuters) - Canada's main stock index looked set to open higher on Thursday, on expectations that Spain would be pressured to seek a sovereign bailout after S&P downgraded it to just one notch above junk.
* Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid after a credit agency cut its rating to near junk, triggering a spike in its borrowing costs.
* The IMF backed giving debt-burdened Greece and Spain more time to reduce their budget deficits, cautioning that cutting too far, too fast would do more harm than good.
* Europe's two biggest aerospace firms BAE and EADS will go back to the drawing board to find new strategies after Germany stymied the world's biggest arms and aviation company merger.
* Japan's Softbank Corp is in talks to acquire a majority stake in Sprint Nextel, the No. 3 wireless carrier in the United States, for more than 1 trillion yen, a source familiar with the matter told Reuters.
* Canada stock futures traded up 0.3 percent Continued...