CANADA STOCKS-TSX may rise at open on commodity prices; RIM eyed

Fri Mar 30, 2012 8:11am EDT
 
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March 30 (Reuters) - Toronto's main stock index looked set to open higher on Friday, buoyed by rising commodity prices and reassuring measures to prevent the euro zone's sovereign debt crisis from flaring.

On the economic calendar, Canada will releases data on economic growth by industry, and a small increase is expected. Research in Motion will likely take center stage after the BlackBerry maker posted its first loss in seven years and launched a strategic review.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* U.S. stock index futures were higher as bargain hunters entered the market after a string of declines, putting equities on track to record their strongest quarter in more than two years.

* European share prices rose following a three-day drop, as bargain hunters scooped up cyclical mining and auto shares after a deal by euro zone finance ministers to boost the currency bloc's firewall reassured investors.

COMMODITY PRICE MOVES

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

* Oil rose above $123 a barrel after three losing sessions with support from a weaker dollar and expectations of tight gasoline supplies in the United States, the world's largest oil consumer.   Continued...