CANADA STOCKS-TSX may open lower on weak European, Chinese data

Wed Feb 22, 2012 8:33am EST
 
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Feb 22 (Reuters) - Toronto's main stock index was set for a slightly lower open on Wednesday, tracking global markets, as weak economic data from Europe and China stoked fears about global growth.

FACTORS TO WATCH

* Canadian equity futures pointed to a slightly lower open.

* U.S. stock index futures slipped, indicating the S&P 500 may snap a three-day winning streak after weaker-than-expected euro zone data and ahead of a report on the U.S. housing market.

* European share prices slipped further from their recent seven-month high as downbeat economic data from the euro zone fuelled worries about recession, and concern continued about Greece even after it secured a bailout.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.22 percent in early trade.

* Oil eased slightly from a nine-month high as weak economic data in Europe and China cast doubt on the outlook for global growth and prospects for fuel demand.

* Gold prices retreated from an earlier two-week high in Europe as persistent concerns over Europe's finances hurt the euro and weighed on stock markets, while supply upsets in major producer South Africa lifted platinum to a five-month high.   Continued...