CANADA STOCKS-TSX may open up on commodity prices, U.S. data

Thu Sep 30, 2010 8:50am EDT
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Sept 30 (Reuters) - Toronto's resource-heavy stock market looked set to open higher on Thursday, helped by rising commodity prices and stronger-than-expected U.S. growth data.


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

* U.S. stock index futures turned positive after data showed a decline in applications for unemployment insurance and a tick-up in the final revision of second quarter U.S. gross domestic product. [.N]

* Canada's economy contracted for the first time in a year in July on weakness in manufacturing, construction and retail, giving the Bank of Canada yet another reason to pause in its interest rate hiking campaign. [ID:nN30434455]

* European stocks dipped on Thursday, down for the fourth straight day as investors digested Spain's credit downgrade and Ireland's massive bank bailout, but losses were limited by rallying techs led by Nokia NOK1V.HE. [.EU]

* Asian stocks fell but were set for their best quarter in a year as investors poured money into regional markets on the back of robust economic growth driven by China.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.38 percent in early trade.   Continued...