CORRECTED - CANADA STOCKS-TSX may open higher on rising commodity prices

Tue Mar 1, 2011 9:37am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Corrects rise in Bank of Montreal earnings in CANADIAN STOCKS TO WATCH section)

Mar 1 (Reuters) - Toronto's main stock index looked set to open slightly higher on Tuesday, helped by rising commodity prices, including a fresh move up in the price of oil.

Investors will also keep a close eye on language used by the Bank of Canada when it announces its latest interest rate decision on Tuesday. All 39 forecasters surveyed by Reuters predicted the central bank would keep its key interest rate on hold at 1 percent. [ID:nN24280596]


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

* The Canadian dollar rose to a three-year high versus the U.S. dollar as the U.S. currency came under broad selling pressure on expectations that interest rates would rise quicker in other parts of the world. [CAD/]

* U.S. stock index futures were up but pared gains as crude oil prices advanced.[.N]

* European shares rose, starting the month on a stronger footing, with sentiment boosted by growing optimism over the outlook for the U.S. economy as investors snapped-up stocks beaten down in the recent sell-off.[.EU]

* Asian stocks rose after influential investor Warren Buffett said he saw the need for major acquisitions, a sign stocks may be cheap.   Continued...