CANADA STOCKS-TSX may open higher as global economy recovers

Thu Sep 5, 2013 9:03am EDT
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Sept 5 (Reuters) - Canadian stock index futures pointed to a flat to slightly higher open on Thursday with investors reluctant to make big bets as tension over the risk of military action in Syria was offset by signs of a better global economic recovery.


* Russia and China warned that the end of the U.S. Federal Reserve's bond-buying program could have a profound impact on the global economy and urged caution.

* The European Central Bank left interest rates unchanged on Thursday, and markets turned their attention to ECB chief Mario Draghi's news conference for any signs a euro zone recovery will affect the bank's policy stance.

* The Bank of Japan said the world's third-largest economy is recovering and signaled it would increase its huge stimulus only if a planned sales tax hike was to threaten its goal of lifting inflation to 2 percent in two years.

* The Bank of England is expected to take a breather when it announces its latest policy decision after a hectic couple of months under new governor Mark Carney which has seen the economy show fresh signs of life.

* Costco Wholesale Corp's August same-store sales pipped analyst estimates, even as lower fuel prices and weak foreign exchange rates weighed on the U.S. warehouse club retailer's comparable sales.