Toronto stocks headed for mixed open

Thu Jun 12, 2008 9:03am EDT
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*Cool commodities may hit resource shares

*TSX could get boost from global brewer bid

*U.S. retail sales data provide optimism

TORONTO, June 12 (Reuters) - The Toronto Stock Exchange's main index was seen mixed on Thursday, under the cloud of falling commodity prices, but it may get a lift from takeover cheer and data that suggested the U.S. consumer is confident.

The Canadian benchmark has fallen the last four sessions, but could get a spill-over boost from optimism in Europe and the United States, where stocks were lifted after Belgium's InBev INTB.BR bid $46 billion for U.S. rival brewer Anheuser-Busch (BUD.N: Quote). For details, see: [nL12619037]

Global markets were also boosted after data showed U.S. retail sales rose more than expected in May. See: [nN11255522]

The resource-heavy TSX often follows the lead of U.S. markets, although tumbling oil, gas, gold and other metal prices could hamper its resource sectors.

Crude oil futures were off more than 2 percent at C$133.58 a barrel, while spot gold slid nearly $20 to $860.95 an ounce -- bad omens for the TSX's heavyweight energy and gold groups.

Canada's Transat AT TRZb.TO may see some action after the holiday travel firm reported a profit drop related to its ABCP holdings, and warned that it would be squeezed by aircraft fuel prices through the summer. For details, see: [nN12300980]   Continued...