CANADA STOCKS-TSX may open flat; firm profits offset growth fear

Thu Apr 28, 2011 8:44am EDT
 
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April 28 (Reuters) - Toronto's main stock index looked set to open little changed on Thursday, with stronger corporate earnings and rise in some commodities including gold offset by concerns about the outlook for North American economic growth.

Canadian companies reporting stronger-than-expected earnings included Potash Corp. POT.TO, paper maker Domtar Corp. UFS.TO and pharmacy chain Jean Coutu Group Inc.

FACTORS TO WATCH

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

* U.S. stock index futures edged lower, adding to losses after the release of unexpectedly weak U.S. growth data. [.N]

* European shares rose as investors bet ultra-loose U.S. policy will continue to drive money into riskier assets. [.EU]

* Asian stocks were mixed with Hong Kong shares falling for a third consecutive day, while Japan's Nikkei added 1.6 percent, gaining ground for the sixth straight session, boosted by a raft of strong earnings.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.11 percent in early trade.   Continued...