TSX may open lower as euro borrowing costs climb

Thu Nov 17, 2011 8:14am EST
 
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Nov 17 (Reuters) - Canadian stocks looked set to open lower as rising yields on euro zone sovereign bonds fanned concerns that the currency bloc's debt crisis would keep spreading, pushing the region into recession.

FACTORS TO WATCH

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

* U.S. stock index futures fell after a late selloff in the previous session as investors kept a close eye on rising yields of euro zone debt. [.N]

* European shares fell to a five-week low in choppy trade as rising bond yields in the euro zone raised concerns the region's two-year debt crisis was deepening and could threaten the global economic recovery. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.76 percent in early trade.

* Brent crude tumbled $3 to $108.88 a barrel on worries that the European debt crisis could spread to some of the region's largest economies. [O/R]

* Gold fell more than 1 percent to a session low of $1,743.14 an ounce as the dollar rose against the euro. [GOL/]   Continued...