CANADA STOCKS-TSX set to open higher after firm GDP, Lundin bid

Mon Feb 28, 2011 9:05am EST
 
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Feb 28 (Reuters) - Toronto's main stock index looked set to open higher on Monday after stronger-than-expected Canadian growth data and the launch of a C$4.8 billion ($4.9 billion) bid for Lundin Mining LUN.TO.

FACTORS TO WATCH

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

* Canada's economy revved back to life in late 2010 after a bout of lackluster growth, supporting expectations the central bank will resume interest rate hikes in the first half of this year. [ID:nN28244249]

* U.S. stock index futures were higher after bullish comments from a Federal Reserve official about the economy, easing concerns that high oil prices could hurt economic activity. [.N]

* European shares edged up , with agrochemical stocks lifted by positive comments on the sector from Bayer, more than offsetting falls in heavyweight HSBC following forecast-lagging results. [.EU]

* Asian shares rose as financial shares clawed back some of last week's losses but gains were capped by fears of further outflows from emerging equities to developed markets.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.19 percent in early trade.   Continued...