TSX set to open lower on commodity drop
(Reuters) - Toronto's main stock index was set open lower on Friday, extending the previous day's heavy losses, as investors continue to liquidate risky assets on concerns that a struggling global economy will dent demand.
FACTORS TO WATCH
Canadian equity futures pointed to a lower open.
U.S. stock index futures fell as talk of a Greece default gained pace and a day after markets spiraled downward on deepening worries about global economic stagnation. .N
European shares fell after a fresh pledge of support from leading global economies to shore up the financial sector failed to placate markets, leaving them on course for a fifth straight month of losses. .EU
Asian markets were largely down on fears of renewed recession in the developed world.
COMMODITY PRICE MOVES
The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 1.50 percent in early trade.
Brent crude oil turned lower to hit a six-week low near $103 a barrel after an initial rally faded, on concern about the outlook for the economy and oil demand. <O/R> Continued...