CANADA STOCKS-TSX may open higher, boosted by gold rush

Wed Sep 8, 2010 8:44am EDT
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TORONTO, Sept 8 (Reuters) - Toronto's main stock index looked set to open higher on Wednesday as gold prices rose for a third day, but gains could be offset by weaker oil and base metals, with investors also looking to the Bank of Canada's interest rate decision.


* Canadian equity futures <0#SXF:> pointed to a stronger open.

* Twenty-five of 41 forecasters polled by Reuters expected the Bank of Canada to raise its overnight target rate to 1 percent from 0.75 percent. [ID:nN03211893] [CA/POLL]

* U.S. stock index futures rose, tracking a turnaround in European stocks and ahead of comments from the Federal Reserve on the state of the economy. [.N]

* European shares firmed, as BP lifted oil majors after it released a report into its Gulf of Mexico oil spill, offsetting falls in banks on concerns over the financial sector's resilience. [.EU]

* Markets in Asia fell, led by shares in Japan's big exporters as a rise in the yen to a new 15-year high threatened to erode their overseas earnings.

* The Canadian dollar traded sideways against the greenback as investors waited to find out whether domestic interest rates will rise for the third time this year. [CAD/]