CANADA STOCKS-TSX may open lower, eye on U.S. Fed meeting, HBC shares

Mon Jul 29, 2013 8:43am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

July 29 (Reuters) - Canada's main stock index looked set to extend the previous session's losses on Monday as investors turn cautious ahead of major central bank meetings later this week, of which the U.S. Federal Reserve will be most closely watched.

TOP STORIES

* Hudson's Bay Co, operator of department store chains Lord & Taylor in the United States and The Bay in Canada, said on Monday that it would buy luxury retailer Saks Inc SKS.N for $16 per share, or $2.9 billion in cash, including debt.

* A proposed mega-merger between global ad agencies Publicis and Omnicom could bring rival accounts such as Coca-Cola and PepsiCo under one firm, underscoring the scale of the $35.1 billion deal and the potential conflicts it raises.

* U.S. drugmaker Perrigo agreed to buy Elan for $8.6 billion in a deal that will hand it tax savings from being domiciled in Ireland and royalties from a blockbuster multiple sclerosis treatment.

* Valeant Pharmaceuticals International Inc, which has offered to buy Bausch & Lomb Holdings for $8.7 billion, said it may slash 10 to 15 percent of the combined company's workforce.

MARKET SNAPSHOT

* Canada stock futures traded down 0.04 percent   Continued...