CANADA STOCKS-TSX may open higher on firm commodities
TORONTO, July 20 (Reuters) - Toronto's main stock market index could open higher on Monday, following a rise in global equity markets, as firm oil and metal prices boost the resource-heavy index.
World stocks built on an already robust performance from last week, climbing on better-than-expected corporate earnings results and a last-minute rescue package for troubled U.S. lender CIT. [ID:nLK722309]
U.S. stock index futures rose on Monday after CIT Group Inc clinched a deal that could avoid bankruptcy, removing some uncertainty as the financial sector recovers from a deep crisis. [.N]
On Friday the S&P/TSX composite index .GSPTSE closed up 65.00 points, or 0.63 percent, at 10,369.42. The TSX added 6.3 percent last week, its biggest weekly gain since mid-May.
Here is some news that could affect the market:
TRANSALTA CROP TA.TO
TransAlta proposes an all-cash offer to acquire Canadian Hydro Developers Inc for C$4.55 per share. TransAlta says proposed transaction has an enterprise value of approximately C$1.5 billion ($1.4 billion). [ID:nWNAB8740]
Magna and Sberbank SBER.RTS have changed their offer for General Motors' former European unit Opel, a source familiar with the matter said. [ID:nWEA1497] Continued...