CANADA STOCKS-TSX may open higher on China hopes

Tue May 29, 2012 8:36am EDT
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May 29 (Reuters) - Toronto's main stock index looked set to open higher on Tuesday, tracking global markets that rose on possibility of further policy stimulus in China.


* The official Shanghai Securities News reported on Tuesday, citing unidentified sources, that China's biggest banks appeared to have accelerated lending toward the end of this month as Beijing starts to fast-track its approval of infrastructure investments in an effort to stem sagging growth. (nL4E8GT0AU)

* Bank of Nova Scotia's second-quarter operating profit rose as international banking and lending profits grew, Canada's No. 3 bank said.

* Spain will recapitalize nationalized lender Bankia by issuing new debt, not by injecting bonds into the lender, and will likely adopt on Friday a new mechanism to back its regions' debt, a government source told Reuters on Tuesday.

* Samsung Electronics launched its top-of-the-range Galaxy S3 smartphone in Europe on Tuesday, aiming to outsell the previous model that helped the South Korean company topple Apple as the world's largest smartphone maker.

* South Africa's AngloGold Ashanti Ltd has agreed to buy the 50 percent of Brazil's Crixas gold mine it does not already own for $220 million cash from Kinross Gold Corp as part of its drive to expand in the Americas.

MARKET SNAPSHOT   Continued...