TSX may rise ahead of Bank of Canada rate decision

Wed Sep 7, 2011 8:31am EDT
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Sept 7 (Reuters) - Toronto's main stock index looked set to open higher on Wednesday ahead of the Bank of Canada's rate decision as stronger-than-expected data on the U.S. services sector and Australian growth boosted investor confidence.


* Canadian equity futures <0#SXF:> pointed to a higher open ahead of a Bank of Canada policy announcement that is expected to sound more dovish than the central bank's July communique.

* U.S. stock index futures rose after a three-day equities decline, on hopes that the European debt crisis might ease. [.N]

* European shares rose sharply, bouncing from a two-year closing low, after a late Wall Street rally on stronger-than-expected services sector data. [.EU]

* Markets in Asia were up with the Nikkei climbing 2 percent on short-covering after three days of losses. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.44 percent in early trade.

* Oil rose to just over $113 a barrel, underpinned by expectations of lower U.S. crude stocks after a storm disrupted production in the Gulf of Mexico, and optimism about a new support package for the U.S. economy. [O/R]   Continued...