TSX may open higher as commodities firm

Tue Dec 13, 2011 8:47am EST
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(Reuters) - - Toronto's main stock index looked set to open higher on Tuesday, taking cues from its U.S. and European counterparts and helped by firmer commodity prices.


Canadian equity futures pointed to a higher open.

U.S. stock index futures rose following an equities sell-off the day before, but anxiety over Europe's debt crisis was seen keeping markets jittery ahead of the U.S. Federal Reserve's assessment of the U.S. economy. .N

European shares rose, bouncing from a steep sell-off in the previous session, though strategists said investors would need to feel more confident about a resolution to the euro zone crisis before the market could break out of a recent range. .EU


The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.42 percent in early trade.

Brent crude rose over $108 after a sell-off in the previous session provided investors with some buying opportunity and after the International Energy Agency (IEA) forecast demand growth next year in the teeth of an economic slowdown.

Spot gold lifted off seven-week lows as the euro recovered modestly and equities steadied, but all gains looked vulnerable on the threat of possible credit rating downgrades for euro zone nations.   Continued...