CANADA STOCKS-TSX may build on previous session's gains

Fri Feb 24, 2012 8:08am EST
 
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Feb 24 (Reuters) - Toronto's main stock index looked set to open higher on Friday, building on gains from the previous session, as crude prices rose on Iran jitters.

Recent favorable economic data and the approach of next week's three-year refinancing operation by the European Central Bank buoyed sentiment.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* Canada's budget update and speech by Bank of Canada's Governor is on the calendar.

* U.S. stock index futures rose, extending gains that have taken equities near highs not seen since before the 2008 collapse of Lehman Brothers.

* European shares edged up as results from companies such as Telecom Italia reassured investors, and strategists said stocks might extend the rally after rising to seven-month highs this week.

COMMODITY PRICE MOVES   Continued...