TSX set to extend Fed-inspired rally

(Reuters) - Canada's main stock index looked set to open higher, extending the rally also seen in global equity and commodity markets after the U.S. Federal Reserve unleashed a long-awaited stimulus program.

TOP STORIES

* Euro zone finance ministers pressed Spain to clarify whether it will seek financial support after the announcement of the European Central Bank's new bond-buying program.

* The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market.

* Euro zone finance ministers did not reach an agreement on the pricing of loans from the European Stability Mechanism at their meeting in Cyprus, an EU diplomat said.

* State-backed Royal Bank of Scotland is to press ahead with the forced sale of its Direct Line insurance division in what could be the biggest listing on the London Stock Exchange for more than a year.

MARKET SNAPSHOT

* Canada stock futures traded up 0.92 percent

* U.S. stock futures,, were up around 0.2 - 1.2 percent <.n/>

* European shares <.fteu3>, <.stoxx> were up <.eu/>

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index <.crb>: 320.41; rose 0.93 percent

* Gold futures: $1,771.9; rose 0.16 percent

* US crude: $99.76; rose 1.47 percent

* Brent crude: $117.36; rose 1.28 percent

* LME 3-month copper: $8,390; rose 3.9 percent

CANADIAN STOCKS TO WATCH

* Manitoba Telecom Services Inc. : The telecommunications company said on Thursday it is undertaking a wide-ranging strategic review of its Allstream business that could potentially result in the sale of the unit that owns an extensive fiber optic network across Canada.

* Talisman Energy Inc. : The energy producer is giving up its eight-year-long effort to produce oil in Peru, the company said on Thursday, as it continues to shed assets in a bid to boost its share price.

(Reporting By Chandrashekhar Modi; Editing by Jeffrey Hodgson)

Source: http://news.yahoo.com/tsx-set-extend-fed-inspired-rally-130215021--finance.html

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