TSX may open higher as Libya optimism lifts oil

Mon Aug 22, 2011 8:44am EDT
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Aug 22 (Reuters) - Toronto's main stock index looked set to open higher, rebounding from previous session's sell-off, as hopes for an imminent end to the conflict in OPEC-member Libya signal a rally by Canadian energy shares.


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

* U.S. stock index futures were higher following four weeks of equity losses as stocks rebounded globally, led by defensive shares. [.N]

* Investors flocked to beaten down oil stocks, helping lift Europe's leading shares after a sharp retreat the previous week, while gold issues drew interest amid lingering worries about global growth. [.EU]

* Asian markets were lower with the Nikkei marking its weakest close since March 15 as worries about the U.S. economy offset signs that the Japanese authorities stand ready to quell any further yen strength. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.38 percent in early trade.

* U.S. crude oil futures rose more than $1 a barrel as the dollar eased against a basket of currencies and as stock markets rose on hopes for a swift end to the conflict in Libya. [O/R]   Continued...