CANADA STOCKS-TSX may open higher on "fiscal cliff" hopes

Tue Dec 18, 2012 8:12am EST
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Dec 18 (Reuters) - Toronto's main stock index looked set to open higher on Tuesday, tracking global markets, fueled by expectation that U.S. lawmakers might reach an agreement to avoid looming tax increases and spending cuts that threaten to hurt the world's biggest economy.


* The differences over how to resolve the "fiscal cliff" narrowed significantly Monday night as President Barack Obama made a counter-offer to Republicans that included a major change in position on tax hikes for the wealthy, according to a source familiar with the talks.

* Knight Capital Group's board was split between two competing offers for the firm after a meeting on Monday where suitors Getco Holding Company LLC and Virtu Financial LLC presented their sweetened bids to Knight's directors, sources involved in the talks said.

* British inflation defied forecasts in November to hold at its highest rate since May, reducing the scope for the Bank of England to inject more cash into the struggling economy.

* Germany's government is considering cutting its forecast for growth in Europe's largest economy next year from its current estimate of 1 percent due to a weak half year over the winter, Deputy Economy Minister Bernhard Heitzer told Reuters.


* Canada stock futures traded up 0.26 percent

* U.S. stock futures , , were up around 0.40 percent   Continued...