CANADA STOCKS-TSX set to open up on ECB loan boost
Feb 29 (Reuters) - Toronto's main stock index was set to edge higher at the open on Wednesday after European banks absorbed more than half a trillion euros as part of a European Central Bank effort to stabilize the euro zone's financial system.
Banks grabbed 530 billion euros at the central bank's second offering of cheap three-year funds, fuelling expectations that credit will flow to businesses and borrowing costs will ease for governments hit by the euro zone crisis.
FACTORS TO WATCH
* Canadian equity futures pointed to a higher open.
* The Canadian dollar surged to its strongest level in more than 5 months against the U.S. dollar after a robust uptake of the ECB's latest offer of cheap loans buoyed riskier assets.
* U.S. stock index futures edged up after the ECB operation.
* The euro dipped to a session low against the dollar in volatile trade while European stocks gained and German Bunds fell after the ECB move.
COMMODITY PRICE MOVES Continued...