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: Quote).


* 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.


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