CANADA STOCKS-TSX set to open higher after strong GDP data

Fri Aug 29, 2014 8:52am EDT
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(Updates Canada and U.S. economic data)

Aug 29 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Friday with the country's economy recording better-than-expected growth.

Persistent consumer spending helped push up Canadian economic growth to an annualized 3.1 percent in the second quarter, from a downwardly revised 0.9 percent in the first quarter, according to Statistics Canada data.

September futures on the S&P TSX index <0#SXF:> were up 0.70 percent at 0845 ET.

Canada's industrial prices and raw material prices fell in July from June, in both cases because of cheaper energy, according to Statistics Canada data.

The country's main stock index fell on Thursday as shares of Toronto Dominion Bank and Canadian Imperial Bank of Commerce weakened after the two lenders reported quarterly results.

Dow Jones Industrial Average e-mini futures were up 0.09 percent at 0845 on Friday, while S&P 500 e-mini futures were up 0.14 percent and Nasdaq 100 e-mini futures were up 0.18 percent. (Morning News Call newsletter; The Day Ahead newsletter


The risk of a property market crash in Canada has not ebbed, according to an increasing number of analysts polled by Reuters who said chances of a steep fall in prices have increased in the past year.   Continued...