CANADA STOCKS-TSX set to open higher, helped by gold miners

Fri May 18, 2012 9:04am EDT
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May 18 (Reuters) - Gold miners look set to help lead Canada's resource heavy main stock index higher at the open on Friday, as the precious metal surged for two consecutive sessions, though growing worries over developments in the euro zone may cast a shadow on possible gains.


* World shares slid and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece's future in the euro zone and lackluster U.S. data bolstered safe-haven assets.

* Investors are bracing for Facebook's Wall Street debut after the world's No.1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history.

* The European Commission and the European Central Bank are working on scenarios in case Greece has to leave the euro zone, EU trade commissioner Karel De Gucht has said.

* Leaders of major industrial economies meet this weekend to try to tackle a full-blown crisis in Europe where fears are growing that Greece could leave the euro zone bloc, threatening the future of the common currency.

* Canadian inflation was slightly stronger than expected in April, pushed higher partly by gasoline prices, but the annual rate matched the Bank of Canada's target of 2.0 percent, up from 1.9 percent in March, Statistics Canada data showed on Friday.

* Global insurers Manulife Financial Corp, Metlife and Prudential Financial Corp are among suitors expected to place first-round bids to buy ING Groep's Asia life insurance unit in a deal worth about $6.5 billion to $7 billion, sources familiar with the matter said.   Continued...