CANADA STOCKS-TSX set to open firmer on economic optimism

Wed Mar 14, 2012 8:56am EDT
 
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March 14 (Reuters) - Toronto's main stock index was set for a higher open on Wednesday, tracking global markets, after benign comments from the U.S. Federal Reserve and positive stress test results from top U.S. banks boosted optimism.

Canadian energy stocks were expected to struggle, as Brent crude oil dipped slightly on expectations for a build in U.S. crude inventories and a stronger dollar.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* U.S. stock index futures edged higher, putting the benchmark index on track for its sixth straight advance after comments from the U.S. Federal Reserve on the economy and banking sector helped boost optimism.

* European shares rose early to reach fresh 33-week highs, led by financials as the U.S. Federal Reserve improved its economic outlook for the world's largest economy and said most U.S. banks had passed its stress tests.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.47 percent in early trade.   Continued...