CANADA STOCKS-TSX may open higher; commodities climb on EU hopes

Tue Oct 25, 2011 8:34am EDT
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Oct 25 (Reuters) - Canadian stocks looked set to open slightly higher on Tuesday, buoyed by rising commodity prices, although the much awaited European Union summit aimed at providing a plan to end the euro zone debt crisis may keep investors on edge.


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

* U.S. stock index futures rose, supported by strong earnings from blue chip companies. [.N]

* European shares steadied as earnings news offset fresh political uncertainty a day ahead of the euro zone leaders' meeting that many hope will take a big step towards solving the region's two-year-old debt crisis. [.EU]

* Markets in Asia were mixed, with the Nikkei average dropping, reversing early gains as hopes for progress in Europe's debt crisis gave way to caution on the domestic front as Japan's corporate earnings season kicked off. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 0.96 percent in early trade.

* Brent was steady above $111 as concerns over Europe's economic health kept prices in check, while U.S. oil rose for a third straight day to hit a fresh three-month high. [O/R]   Continued...