July 21, 2011 / 1:08 PM / 8 years ago

CANADA STOCKS-TSX may open higher on euro zone hopes

 July 21 (Reuters) - Toronto's main stock index looked set to opener higher on Thursday, after draft EU summit conclusions eased anxiety about the European debt crisis and offset the impact of weak economic data from China.
 The euro zone bailout fund, the EFSF, will provide loans to Greece, Ireland and Portugal at a lower interest rate and for longer maturities, according to draft summit conclusions seen by Reuters. [ID:nB5E7HN032]
 * Canadian equity futures <0#SXF:> pointed to a higher open.
 * U.S. stock index futures turned higher on Thursday after Morgan Stanley [MS.N] reported a narrower-than-expected quarterly loss. [.N]
 * European shares fell as fresh talk of a selective Greek default, ahead of a meeting of euro zone leaders, combined with weak economic data to hit investor risk appetite. [.EU]
 * Markets in Asia were largely low but Nikkei held on to most of its strong gains made the day before, bolstered by hopes that a debt deal for Greece will be struck. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive Morning News Call - Canada -- a Reuters preview of market moving news -- before the trading day starts, register at link.reuters.com/wyh72s ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
 * The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.18 percent in early trade.
 * U.S. crude oil futures rose after the dollar extended its losses against the euro following U.S. government data showing that jobless benefit claims rose more than expected last week. [O/R]
 * Gold prices slipped to session lows on Thursday after the release of draft proposals from the EU summit, which made reference to extending EFSF loans and allowing the rescue fund to intervene on a precautionary basis. [GOL/]
 * London copper dropped for a second day, erasing early gains, as poor manufacturing data at top copper consumer China countered optimism about progress in resolving debt woes in Europe and the United States. [MET/L]
 * Encana Corp. (ECA.TO): The natural gas producer posted a second-quarter profit and said it expects to meet its full-year cash flow target, as the company has hedged its forecast output for the year at significantly higher prices. [ID:nL3E7IL24C]
 * Genworth MI Canada (MIC.TO): The mortgage insurer said it expects a lower net income but a higher per-share profit in the second-quarter, even as its U.S. parent forecast a loss in the second quarter. [ID:nL3E7IK45Z]
 ($1= $0.95 Canadian)  (Reporting by Kishan Nair; Editing by Jeffrey Hodgson)   

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