*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). 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]
Joe Ismail, technical analyst at Maison Placements Canada, said the Canadian market is still under pressure from volatile commodities and the growing inflation fears.
“I wouldn’t be surprised to see it sell off this morning,” he said.
Independent investment bank Canaccord Capital CCI.TO, as well as commercial printer Transcontinental Inc (TCLa.TO), are expected to report results later on Thursday.
The S&P/TSX composite index .GSPTSE starts the day at 14,716.52 after falling 19.68 points, or 0.1 percent, in the previous session. It is down 1.8 percent the last four days. ($1=$1.02 Canadian) (Reporting by Jonathan Spicer; Editing by Scott Anderson)