REFILE-CANADA STOCKS-Futures point to lower start for TSX after GDP data

Tue Mar 3, 2015 9:00am EST
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(Corrects day of the week to Tuesday from Friday in paragraph 1)

Mar 3 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday after stronger-than-expected GDP data for the fourth quarter suggested the Bank of Canada would be less inclined to cut interest rates at its meeting on Wednesday.

March futures on the S&P TSX index were down 0.17 percent at 8:30 a.m. ET.

The Canadian economy grew at an annualized rate of 2.4 percent in the fourth quarter of 2014, following a revised third quarter growth rate of 3.2 percent.

Canada's main stock index rose on Monday as a jump in Valeant Pharmaceuticals International Inc helped to offset weakness in the energy sector after a drop in the Brent price.

The Canadian market has been choppy in recent months as the price of oil fluctuates.

Dow Jones Industrial Average e-mini futures were down 0.17 percent at 8:30 a.m. ET, while S&P 500 e-mini futures were down 0.15 percent and Nasdaq 100 e-mini futures were down 0.22 percent.

(Morning News Call newsletter; The Day Ahead newsletter

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