CANADA STOCKS-TSX may open higher; U.S. job data supports sentiment

Mon Nov 11, 2013 8:28am EST
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Nov 11 (Reuters) - Canada's main stock index was set for a higher open on Monday after investor sentiment got a boost from strong U.S. payrolls data released on Friday which suggested an improved growth outlook for Canada's largest trading partner.


* Angela Merkel's conservatives and the Social Democrats have struck a deal on the contours of a European banking union under which a body attached to European finance ministers, not the European Commission, would decide when to close failing banks.

* Mitel Networks Corp, a provider of internet phone and video-conferencing services, said it would buy smaller rival Aastra Technologies Ltd for C$392 million to expand its customer base. [ID: nL4N0IW350]

* Shire is buying ViroPharma for $4.2 billion, attracted by a pipeline of potentially lucrative drugs to treat rare diseases, a growing trend as drugs companies lose revenues from patent expiries on conventional treatments.

* Switzerland's Novartis has agreed to sell its blood transfusion testing unit to Spain's Grifols for $1.68 billion, in an increasingly buoyant market for healthcare deals.

* More U.S. primary dealers now expect the Federal Reserve to scale back its economic stimulus program before March in the wake of October jobs numbers and other data pointing to a firmer economy, according to a Reuters poll on Friday.

MARKET SNAPSHOT   Continued...