CANADA STOCKS-TSX may open lower; Japan data fuels growth fears

Mon Aug 16, 2010 8:56am EDT
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Aug 16 (Reuters) - Toronto's main stock index looked set to open lower on Monday as far weaker-than-expected growth numbers from Japan added to concerns the global economic recovery will falter.


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

* Wall Street is also set for a lower open. Mining stocks could be in focus after Vedanta Resources VED.L said it will spend up to $9.6 billion to acquire as much as 60 percent of Cairn India CAIL.BO. [.N]

* European stocks were down, surrendering small gains made in the previous two sessions, led lower by banking and energy stocks.

* Most Asian stocks fell after Japan GDP data painted a gloomy picture for the economy. Japan's quarterly GPD growth came at 0.1 percent, which translates to an annualized expansion of 0.4 percent, well below the median market forecast of 2.3 percent.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.12 percent in early trade.

* Oil edged higher towards $76 a barrel on Monday with a boost from a weaker dollar, but concerns about faltering economic recovery in some big oil-consuming nations capped gains. [O/R]   Continued...