TSX may open up as Merkel, Sarkozy meet

Mon Dec 5, 2011 8:10am EST
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Dec 5 (Reuters) - Canada's main stock index looked set to open higher on Monday, tracking its U.S and European counterparts, on anticipation of a Franco-German masterplan.


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

* U.S. stock index futures rose building on the previous week's strong gains, as optimism grew that the upcoming European Union summit would break new ground to resolve the euro zone debt crisis.

* European stocks rose early, adding to last week's 8.5 percent jump on growing hopes of a comprehensive solution to the euro zone debt crisis as French President Nicolas Sarkozy and German Chancellor Angela Merkel meet ahead of a key summit. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, rose 0.29 percent in early trade.

* Oil prices rose with Brent crude futures up near $111, extending gains from last week as rising tensions between Iran and the West increased the risk of disruption to crude shipments by the world's fifth-largest oil exporter.

* Gold prices dipped, after posting their sharpest weekly rise in more than a month, in cautious trading ahead of a meeting of European Union leaders to come up with a firm plan to tackle the euro zone debt crisis.   Continued...