TSX may open higher as commods rise on Europe hope

Fri Oct 14, 2011 8:20am EDT
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Oct 14 (Reuters) - Toronto's main stock index was set to open slightly higher on Friday, taking cues from European markets, as commodity prices rose on hopes that world leaders would make progress on resolving the euro zone crisis.


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

* U.S. stock index futures rose, as investors shrugged off downgrade of Spain's credit rating and focused on strong earnings from Google Inc and hopes for progress on Europe's debt crisis. [.N]

* European stocks resumed their recovery rally after the previous session's bout of profit-taking as growing hopes of swift measures to battle the euro zone debt crisis eclipsed Spain's credit rating downgrade by Standard & Poor's. [.EU]

* Most Asian stocks fell, with Nikkei down partly pressured by a shake-up among Olympus Corp's top management. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.9 percent in early trade.

* Brent crude rose toward $112, heading for a second-straight weekly increase, on bets that China may loosen credit as inflation cools and boost fuel demand in the world's second largest oil consumer. [O/R]   Continued...