CANADA STOCKS-TSX may open lower on weak Canadian, U.S. data

Thu Aug 19, 2010 8:54am EDT
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Aug 19 (Reuters) - Toronto's main stock index could open lower on Thursday after data showed initial U.S. jobless claims unexpectedly rose and Canadian wholesale trade and leading indicator data came in lower than expected.


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

* Canadian wholesale trade unexpectedly fell 0.3 percent in June from May on faltering sales of machinery, equipment and supplies in another sign the economic recovery lost some momentum in the second quarter. [ID:nN19243100]

* The rise in Canada's composite leading indicator posted the slowest increase in a year at 0.4 percent in July from 0.7 percent in June, as the cooling housing market partially offset a comeback in manufacturing. [ID:nN19270234]

* U.S. stock index futures turned negative after data showed first-time jobless claims rose unexpectedly in the latest week, underscoring labor market weakness. [.N]

* European shares extended gains after Germany's Bundesbank said the country's economy will grow by 3 percent this year against a previous forecast of almost 2 percent. [.EU]

* Asian stocks were up with the Nikkei gaining 1.3 percent, buoyed by short-covering and bargain-hunting by domestic investors after falls earlier this week, but the yen's overall strength against the dollar capped further gains.