CANADA STOCKS-TSX may open higher in cautious trade

Thu Apr 12, 2012 9:10am EDT
 
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April 12 (Reuters) - Toronto's main stock index looked set to edge higher at the open on Thursday in cautious trade, with concern about Europe's debt crisis rising after Italy's three-year borrowing costs rose more than a percentage point.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* U.S. stock index futures pared gains after data showed new claims for unemployment benefits unexpectedly rose to their highest level since January, heightening worry about a stalled labor market recovery.

* Europe's top shares were lower by midday with banks paring gains as a sharp rise in Italy's borrowing costs provided a further sign markets are not convinced that Europe is on top of its debt problems.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, rose 0.18 percent in early trade.

* Brent crude oil steadied around $120 per barrel, supported by a weaker dollar and hopes of faster economic growth, despite news of higher oil production by Saudi Arabia and a fairly bearish report from the IEA energy advisory body.   Continued...