CANADA STOCKS-TSX futures rise after China rate cut

Fri Nov 21, 2014 8:53am EST
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(Updates with Canadian economic data)

Nov 21 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Friday, mirroring gains in global markets after China's central bank cut its benchmark interest rate for the first time in more than two years.

December futures on the S&P TSX index were up 0.65 percent at 8:45 a.m. ET.

Canada's annual inflation rate jumped to 2.4 percent in October, driven by higher prices for shelter and food. While the figures could put the Bank of Canada under fresh scrutiny, the report is unlikely to change the central bank's cautious approach to interest rate hikes as policymakers have said the recent strength in prices is likely to be temporary.

The Toronto Stock Exchange's S&P/TSX composite index rose to its highest in eight weeks on Thursday as rising commodity prices boosted the shares of gold miners and energy producers.

Dow Jones Industrial Average e-mini futures were up 0.82 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were up 0.80 percent and Nasdaq 100 e-mini futures were up 0.77 percent.

(Morning News Call newsletter; The Day Ahead newsletter

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