TSX may open higher as China data supports miners

Tue Aug 23, 2011 8:20am EDT
 
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Aug 23 (Reuters) - Toronto's main stock index futures pointed to a higher open after Chinese factory data came in less gloomy than feared, signaling further demand growth for Canadian-listed miners.

FACTORS TO WATCH

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

* U.S. stock index futures rose sharply, tracking global equities that gained after gauges of Chinese and euro zone economic activity came in less gloomy than feared. [.N]

* Autos featured among recovering European stocks as Chinese data showed the world's second-biggest economy is still growing strongly and on investor hopes of a fresh round of U.S. quantitative easing. [.EU]

* Asian markets were higher, with the Nikkei rising more than 1 percent, as investors picked up domestic-demand stocks such as food makers and paper firms. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.49 percent in early trade.

* Brent crude held steady, supported by better than expected manufacturing data in Germany and China and by uncertainty in Libya where government loyalists staged a fight back. [O/R]   Continued...