CANADA STOCKS-TSX set to open lower on soft growth, commodities

Tue Aug 31, 2010 9:00am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Aug 31 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday, hurt by soft commodity prices and weaker-than-expected Canadian growth data that increased fears about the strength of the economic recovery.


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

* Canada's economic growth rate slowed more sharply than expected in the second quarter on weaker consumer spending and trade performance, fueling expectations the Bank of Canada's rate hikes will be gradual. [ID:nN31202447]

* U.S. stock index futures were lower on Tuesday as investors awaited data on housing and consumer confidence to gauge the pace of the economy recovery. [.N]

* European stocks were down around midday on Tuesday, on track to record their sixth monthly loss this year, as investors fretted about lingering worries over the health of the U.S. economy ahead of key macroeconomic data.

* Asian stocks were lower with Nikkei tumbling 3.6 percent, as investors grew more concerned that officials were not going to halt the relentless rise in the yen, which has gained 11 percent since May.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.44 percent in early trade.   Continued...