U.S. stock futures on rose Thursday on news of a US$46.4 billion takeover bid for brewing giant Anheuser-Busch Cos., and stronger than expected retail sales.

On Wednesday, Anheuser-Busch said it received a long-expected unsolicited proposal from Belgian rival InBev to acquire the company in a deal valued at about US$46.4 billion. The US$65-a-share cash offer for represents a premium of about 11% to Wednesday’s close.

On today’s data calendar, U.S. retail sales rose 1% in May, double the rate expected in a sign consumers were using stimulus payments.

Meanwhile, U.S. import prices jumped, suggesting rising oil prices and a weak dollar are fanning inflationary pressures.

U.S. business inventories and natural gas stocks figures will be released.

There are no major economic releases from Statistics Canada today.

The Canadian dollar opened at US97.65¢, down 0.39 cent as the U.S. dollar rose against other major currencies.

Oil and gold prices fell as the U.S. dollar gained strength. Sweet crude for July delivery was down US$1.75 by noon in Europe in electronic trading on the New York Mercantile Exchange to trade at US$134.45.

Gold traded in London at US$871.25 per troy ounce, down from US$879.10 late Wednesday.

In other news, Citigroup Inc. is closing a hedge fund co-founded by CEO Vikram Pandit only 11 months after buying it for more than US$800 million.

Overseas, the UK FTSE 100 index was up 0.9% near midday, adding 57.6 points to 5,774.9, while the German DAX gained 0.8% and the Paris CAC-40 was higher by 0.4%.

In Asia, the Shanghai composite index endured its seventh straight down day, falling 2.2% to 2,957.53.

Hong Kong’s Hang Seng index fell for a third day, losing 1.3% to 23,023.86.

Japan’s Nikkei 225 index shed 2.1% to 13,888.60.

Toronto stocks closed lower Wednesday, as support from resource shares was offset by worries over inflation.

The S&P/TSX composite index fell 19.68 points, or 0.13%, to end at 14,716.52, after falling more than 200 points on Tuesday.

The junior S&P/TSX Venture composite index shed 10.38 points, or 0.39%, to close at 2,638.56.

On Wall Street, U.S. stocks sank, with all three indexes losing around 2%.

The Dow Jones industrial average was down 205.99 points, or 1.68%, at 12,083.77. The S&P 500 was down 22.95 points, or 1.69%, at 1,335.49. The Nasdaq composite index was down 54.93 points, or 2.24%, at 2,394.01.