CANADA STOCKS-TSX may open higher; Germany data supports

Mon Feb 24, 2014 8:38am EST
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Feb 24 (Reuters) - Canadian stock index futures pointed to a higher open on Monday after an unexpected rise in German business morale boosted recent optimism over economic recovery in the euro zone.


* German Bund futures fell to the day's low after the Ifo business climate index in Europe's powerhouse economy rose to 111.3 from 110.6 last month. The German data lifted European shares out of a funk caused by signs of credit restrictions in China's property sector.

* Euro zone consumer prices fell in January at their fastest ever pace on a monthly basis, dragged down by a slump in the cost of non-energy industrial goods, keeping annual inflation well below the European Central Bank's target.

* China's home price rises eased for the first time in 14 months in January, the latest sign that the government's over four-year campaign to rein in property risk may finally be starting to bite.

* HSBC missed market expectations with a 9 percent increase in annual pretax profit and warned of greater volatility in emerging markets this year.

* German drug firm Bayer has clinched a $2.9 billion deal to take over Norwegian cancer drug maker Algeta after being tendered 92.17 percent of the shares in a cash offer, the companies said.