TSX set to open lower on commodity drop

Fri Sep 23, 2011 8:26am EDT
 
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(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...