CANADA STOCKS-TSX may open lower, weak U.S. data weighs

Mon Jul 16, 2012 8:45am EDT
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July 16 (Reuters) - Toronto's main stock index looked set to open lower on Monday, as investors remained cautious ahead of the start of U.S. Federal Reserve Chairman Ben Bernanke's two-day congressional testimony, which starts on Tuesday.

North American equity futures also extended losses after data showed U.S. retail sales fell 0.5 percent in June.


* Glencore International Plc has won a Canadian regulator's approval for its roughly C$6.1 billion takeover of grain handler Viterra Inc.

* The European Central Bank declined to comment on a report its president advocated imposing losses on holders of senior bonds issued by the most severely damaged Spanish savings banks in what would be a change to the ECB's previous stance.

* The billionaire co-owners of Anglo-Russian oil venture TNK-BP would be willing to sell their stake to British oil major BP Plc for cash and stock to put an end to a bitter shareholder conflict.

* Visa Inc, MasterCard Inc and banks that issue their credit cards have agreed to a $7.25 billion settlement with U.S. retailers in a lawsuit over the fixing of credit and debit card fees in what could be the largest antitrust settlement in U.S. history.

* GlaxoSmithKline is expected to announce a deal to buy Human Genome Sciences for about $2.8 billion as soon as Monday, ending a three-month hostile pursuit of the U.S. biotech company on friendly terms after sweetening its offer.   Continued...