CANADA STOCKS-TSX set to open higher on Greece hopes

Fri Feb 17, 2012 8:39am EST
 
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Feb 17 (Reuters) - Toronto's main stock index looked set to open higher on Friday on hopes Greece will seal a long-awaited bailout deal next week and avoid a messy debt default.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* Canada's annual inflation rate edged up in January but the increase is unlikely to put pressure on the Bank of Canada, which looks set to keep interest rates on hold for much of 2012.

* The Canadian dollar firmed to a session high against the U.S. dollar after the inflation data.

* U.S. stock index futures were little changed as investors were set to take a breather from a rally that pushed the S&P 500 to a nine-month high in the previous session.

* European shares rose to hit a six and a half month high as investors bet that Greece would sign a deal to secure a second bailout by Monday and avoid a messy default, which could have rippling effect in the financial markets.

  Continued...