CANADA STOCKS-Futures extend gains after ECB rate cut

Thu Mar 10, 2016 9:03am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds ECB rate cuts, economic data)

March 10 (Reuters) - Canada's stock index futures extended gains on Thursday after the European Central Bank cut its key interest rates and expanded its asset-buying program, and data showed Canada's new home prices rose in January.

March futures on the S&P TSX index were up 0.74 percent at 8:45 a.m. ET.

The ECB cut its deposit rate deeper into negative territory, charging banks more for parking their cash, and increased monthly asset buys to 80 billion euros ($86.82 billion) from 60 billion euros. It also cut its main refinancing rate to zero from 0.05 percent.

Canadian new home prices rose 0.1 percent in January, driven by higher costs in Vancouver and Toronto, data from Statistics Canada showed.

Separately, Statistics Canada data showed that industrial and manufacturing capacity rates both fell in the fourth quarter from the third quarter.

Canada's benchmark stock index rose on Wednesday, led by energy stocks as crude oil prices rallied and financial stocks gained after the Bank of Canada held interest rates.

Dow Jones Industrial Average e-mini futures were up 0.85 percent at 8:45 a.m. ET. S&P 500 e-mini futures were up 0.92 percent and Nasdaq 100 e-mini futures were up 1.05 percent.

(Morning News Call newsletter; The Day Ahead newsletter   Continued...