CANADA STOCKS-TSX set to edge higher at open; U.S. data weighs

Wed Jun 26, 2013 9:00am EDT
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June 26 (Reuters) - Canada's main stock index looked set to open higher on Wednesday, helped by recent central bank efforts to calm skittish markets, but gains were expected to be limited by weaker-than-forecast U.S. economic data.


* U.S. stock index futures slightly pared gains after the final read on first-quarter gross domestic product came in weaker than expected.

* After a 12-year hiatus, the United States reclaimed first place among top executives in a survey on foreign direct investment sentiment, displacing China as it makes progress toward sustainable and steady economic growth, a study showed.

* Markets over-reacted to the Federal Reserve's plan to stop money printing but volatility is inevitable and should not deter other central banks from doing the same when the time is right, the head of the Bank for International Settlements said.

* An exit from the European Central Bank's exceptional monetary policy measures remains distant, ECB President Mario Draghi reiterated, soothing unnerved markets after the U.S. Federal Reserve laid out a plan to reel in stimulus.

* China's financial markets calmed down after days of turmoil thanks to the central bank's pledge to prevent a credit crunch, but stocks struggled as investors braced for tougher conditions in the world's second-largest economy.

MARKET SNAPSHOT   Continued...