CANADA STOCKS-TSX may rise at open, weak dollar may lift miners

Tue Jul 26, 2011 8:21am EDT
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Jul 26 (Reuters) - Toronto's main stock index looked set to open higher on Tuesday, led by mining shares that could benefit as a falling U.S currency made dollar-denominated commodities cheaper to buy.


* Canadian equity futures <0#SXF:> pointed to a higher open.

* U.S. stock index futures were slightly higher after earnings from Ford Motor Co F.N and other blue chip companies bolstered optimism about a strong earnings season[.N]

* European stocks extended their losses as results from an Italian debt auction reignited concerns over the euro zone debt crisis and weaker-than-expected results from oil major BP and Swiss bank UBS. [.EU]

* Asian markets were mostly higher, but Indian shares were slammed after the central bank stunned markets with a hefty rate increase, stoking expectations that policy rates may be peaking.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.39 percent in early trade.

* Oil prices rose bolstered by dollar weakness as a political tussle on raising the U.S. debt ceiling persisted, though investors shrugged off fears that a U.S. default would undermine the appetite for riskier assets. [O/R]   Continued...