TSX may open up as commods rise on euro zone hopes

Mon Nov 28, 2011 8:17am EST
 
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Nov 28 (Reuters) - Toronto's main stock index was set to open higher on Monday as commodity prices rose on hopes that Europe will unveil fresh measures to tackle the region's growing debt crisis.

FACTORS TO WATCH

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

* U.S. stock index futures jumped on optimism over the latest round of proposals out of Europe to corral the growing euro zone debt crisis. [.N]

* European shares jumped, led by bank and insurance stocks on hopes euro zone leaders will unveil fresh measures to fight the region's debt crisis, ahead of a summit next week. [.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 1.54 percent in early trade.

* Oil rose sharply, with U.S. crude futures climbing above $100 per barrel as concerns of a supply disruption from the Middle East overshadowed worries over oil demand growth and a worsening economic outlook for the euro zone. [O/R]

* Gold rose above $1,700 to its highest level in a week, helped by a strong euro and gains in equity markets, and hopes Europe will unveil fresh measures to tackle the region's growing debt crisis. [GOL/]   Continued...