(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 SXFc1 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 1YMc1 were up
0.85 percent at 8:45 a.m. ET. S&P 500 e-mini futures Esc1 were
up 0.92 percent and Nasdaq 100 e-mini futures NQc1 were up
1.05 percent.
TOP STORIES
A long-awaited rebound in Canadian manufacturing is finally
taking hold as currency hedges and contracts priced when the
country's dollar was stronger expire, giving exporters a
competitive edge, executives in the sector say. AT 8:45 a.m. ET COM/WRAP
Gold futures GCc1 : $1,249.00; -0.60 pct GOL/
US crude CLc1 : $38.29; 0.00 pct O/R
Brent crude LCOc1 : $40.78; -0.71 pct O/R
LME 3-month copper CMCU3 : $4,901.00; -0.69 pct MET/L
ANALYST RESEARCH HIGHLIGHTS
Imperial Oil Ltd IMO.TO : RBC raises target price to C$46
from C$44; rating "sector perform"
Manitoba Telecom Services Inc MBT.TO : CIBC cuts rating to
"sector performer"
Transcontinental Inc TCLa.TO : CIBC raises target price to
C$22 from C$21
U.S. ECONOMIC DATA ON THURSDAY
0830 Initial jobless claims: Actual 259,000; Revised 277,000
0830 Jobless claims 4-week average: Actual 267,500; Revised
270,000
0830 Continued jobless claims: Actual 2.225 mln; Revised
2.257 mln
1400 Federal budget balance for Feb: Expected -$200 bln;
Prior $55.2 bln
($1= C$1.33)
($1 = 0.92 euro)