CANADA STOCKS-TSX may open higher after housing data
April 11 (Reuters) - Toronto's main stock index looked set to open higher on Wednesday as stronger-than-expected Canadian housing data gave investors a reason to be optimistic after shares dropped to their lowest point of the year in the previous session.
FACTORS TO WATCH
* Canadian equity futures pointed to a higher open.
* U.S. stock index futures bounced back after five days of losses on the S&P 500 that brought the benchmark index down more than 4 percent.
* European shares extended their advance in late morning trade as bargain hunters moved in after steep losses in the previous session, and with some taking a more positive view of the latest Italian debt auction.
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, rose 0.14 percent in early trade.
* Oil edged higher to around $120 a barrel, after falling to its lowest in almost two months, supported by increased investor appetite for riskier assets that also led to gains in equities and the euro.
* Gold steadied, following four straight days of rallies, as the intensifying euro zone debt crisis threatened to undermine the euro and offset any potential safe-haven demand for the metal. Continued...