CANADA STOCKS-TSX set to open high on China data, commodities up

Wed Dec 1, 2010 8:52am EST
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Dec 1 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Wednesday as investor sentiment was boosted by strong manufacturing data from China, the biggest consumer of commodities.


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

* December started on a high note for U.S. stock index futures as upbeat Chinese factory data lifted investor confidence about a global economic recovery, and the euro bounced back from 10-week lows. [.N]

* European shares rebounded from the previous session's seven-week low as strong factory output data from China, one of the world's top metals consumers, boosted miners, while carmakers advanced on positive outlook. [.EU]


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.95 percent in early trade.

* Oil rose to above $85 a barrel as rising factory output in China and a report saying U.S. inventories declined countered lingering concern about Europe's debt problems. [O/R]

* Gold rose above $1,395 an ounce in Europe and hit record highs in euro and sterling terms as concerns over the spread of the euro zone debt crisis prompted buying of the precious metal as a haven from risk. [GOL/]   Continued...