CANADA STOCKS-TSX may open higher on Nexen takeover approval, China data

Mon Dec 10, 2012 8:35am EST
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Dec 10 (Reuters) - Toronto's main stock index looked set to open higher on Monday, supported by a rise in Nexen Inc and Progress Energy Resources Corp after the Canadian government approved takeover bids for the energy companies.

An increase in commodity prices after a rise in factory output in China also boosted investor sentiment.


* Canada approved China's biggest foreign takeover, the $15.1 billion bid by CNOOC Ltd for energy company Nexen Inc , but drew a line in the sand against future acquisitions by foreign state-owned enterprises.

* China's exports growth slowed sharply to a much lower than expected 2.9 percent in November, a customs report said, underscoring the global headwinds dragging on an economy showing otherwise solid signs of a pick up in domestic activity.

* Italian Prime Minister Mario Monti announced on Saturday that he would resign once the 2013 budget is approved, potentially bringing forward an election due early next year and fuelling speculation that he might run.

* Bank of America Merrill Lynch is emerging as one of the biggest buyers of loans from deleveraging European banks, which have been selling loan portfolios to raise capital and comply with stress tests, tidy up their balance sheets and refocus on their client base.

* American International Group Inc is to sell nearly all of ILFC, the world's second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market easier and cheaper access to planes.   Continued...