CANADA STOCKS-TSX to open higher on firm U.S. data, ECB cut

Thu Nov 3, 2011 9:00am EDT
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Nov 3 (Reuters) - Canadian stocks were set to open higher on Thursday, helped by encouraging U.S. economic data and the European Central Bank's surprise decision to cut interest rates.

Still, investors were expected to trade cautiously as chaos over Greece's role in the euro zone swept financial markets with early losses in stocks and the euro turning to gains on hopes Athens might ditch its referendum plans. [MKTS/GLOB]


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

* U.S. stock index futures added to gains in choppy trade after data showed new U.S. claims for unemployment benefits fell last week while U.S. nonfarm productivity increased during the third quarter. [.N]

* European shares were trading higher, with opening losses reversed on talk the Greek government might collapse, meaning there might be no referendum on its bailout and easing concerns about an imminent default. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.56 percent in early trade.

* Oil prices edged higher, pushing towards $110 a barrel, as hopes that a Greek referendum on a eurozone bail out would be delayed if the government collapsed, allowing the eurozone to work its way out of its debt crisis. [O/R]   Continued...