TSX may open lower as euro concerns spread to Italy

Mon Nov 7, 2011 8:25am EST
 
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(Reuters) - Toronto's main stock index looked set to open lower on Monday on concern that the euro zone debt crisis could engulf Italy, overshadowing a government coalition deal in Greece that could help secure its latest bailout package.

FACTORS TO WATCH

* Canadian equity futures pointed to a lower open.

* U.S. stock index futures fell as political turmoil in Italy sparked worry the euro zone debt crisis could consume the region's third largest economy..N

* European stocks pared losses on intensifying market talk that Italian Prime Minister Silvio Berlusconi could resign soon, easing fears over the country's ability to deal with its debt pile. .EU

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.25 percent in early trade.

* Brent crude oil rose above $112 a barrel on hopes political settlements in Greece and Italy could help resolve the euro zone debt crisis and minimize the chances of a further slowdown in global economic growth

* Gold rose more than 1 percent as investors piled into the traditional safe haven asset as Europe's debt crisis intensified on concerns about political instability in Italy and Greece.   Continued...