TSX may open lower as euro concerns spread to Italy

Mon Nov 7, 2011 8:22am EST
 
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Nov 7 (Reuters) - Toronto's main stock index looked set to open lower on Monday on concern that the euro zone debt crisis could engulf Italy, overshadowing a government coalition deal in Greece that could help secure its latest bailout package.

FACTORS TO WATCH

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

* U.S. stock index futures fell as political turmoil in Italy sparked worry the euro zone debt crisis could consume the region's third largest economy.[.N]

* European stocks pared losses on intensifying market talk that Italian Prime Minister Silvio Berlusconi could resign soon, easing fears over the country's ability to deal with its debt pile. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 0.25 percent in early trade.

* Brent crude oil rose above $112 a barrel on hopes political settlements in Greece and Italy could help resolve the euro zone debt crisis and minimize the chances of a further slowdown in global economic growth. [O/R]

* Gold rose more than 1 percent as investors piled into the traditional safe haven asset as Europe's debt crisis intensified on concerns about political instability in Italy and Greece. [GOL/]   Continued...