TSX may open higher as commodities rise

Thu Nov 24, 2011 8:33am EST
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Nov 24 (Reuters) - Canada's main stock index looked set to eke out gains at open on Thursday, mirroring a modest rebound in commodity prices, after plunging almost 2 percent in the previous session.

Any gains might prove fragile after Germany's poorly received bond sale on Wednesday fueled fears the euro zone debt crisis was beginning to affect even the currency bloc's safest haven.


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

* U.S. markets are closed for Thanksgiving holiday.

* European shares were higher on Thursday after five days of losses, helped by a surprise pick-up in German business sentiment, though strategists said worries about the euro zone debt crisis would cap any upside. [.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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* Brent crude futures rose $1 to $108.02 a barrel and U.S. crude futures rose $1 to $97.17 a barrel as tight supply, tensions in the Middle East and a weaker dollar all helped support oil prices. [O/R]

* Gold rose to around $1,700 an ounce after its decline to one-month lows this week triggered some bargain hunting, helped by the euro's slight gain against the dollar after the common currency hit seven-week lows the previous day. [GOL/]   Continued...