CANADA STOCKS-TSX may open higher on Spain hopes, data

Mon Oct 15, 2012 8:49am EDT
 
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Oct 15 (Reuters) - Canada's main stock index looked set to open higher on Monday, helped by expectations Spain will request a bailout package, stronger-than-expected U.S. retail sales data and tame Chinese inflation.

TOP STORIES

* U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

* Benign inflation in September showed China has scope to ease policy even as evidence mounts that earlier pro-growth measures are gaining traction, reducing the pressure on policymakers to act as a once-a-decade leadership transition approaches.

* A 100 billion euro aid request from Spain to its euro zone partners would shave 1.5 percent off Italy's economic output, the finance minister in Rome was quoted as saying.

* Japanese mobile operator Softbank Corp said it will buy up to 70 percent of Sprint Nextel Corp, the third-largest U.S. carrier, for about $20.1 billion - the most a Japanese firm has spent on an overseas acquisition.

* Qatar, the second-largest investor in miner Xstrata, is looking favorably at the company's proposed merger with commodities trader Glencore, Prime Minister Sheikh Hamad bin Jassim al-Thani said.

MARKET SNAPSHOT   Continued...