CANADA STOCKS-TSX may open firmer after US jobs data

Thu Aug 26, 2010 9:02am EDT
 
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Aug 26 (Reuters) - Toronto's main stock index looked set to open higher on Thursday, helped by a rise in commodity prices and stronger-than-expected U.S. economic data.

FACTORS TO WATCH

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

* U.S. stock index futures extended gains on Thursday after data showed first-time applications for unemployment insurance fell more than expected in the latest week. [.N]

* New U.S. claims for unemployment benefits fell more that expected last week but a measure of underlying labor market trends rose to a nine-month high, government data showed on Thursday. [ID:nN26152418]

* European stocks were up, halting a one-week drop on a batch of strong corporate results.

* Asian stocks rose as investors hunted for bargains among recently beaten-down shares.

* The Canadian dollar recovered from a seven-week low against the U.S. currency on Thursday after an overnight bounce in equity markets and commodity prices. [CAD/]

COMMODITY PRICE MOVES   Continued...