CANADA STOCKS-TSX set to open firmer after Chinese, U.S. data
Oct 1 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Friday, with commodity prices firm after better-than-expected U.S. consumer spending data and a report showing strong demand in China's manufacturing sector.
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures briefly added gains on Friday after data showed consumer spending rose slightly more than expected, while a top Fed official said more action is needed to boost growth if the economy does not improve. [.N]
* European stocks erased early gains and turned negative around midday on Friday as retreating banking stocks overshadowed strong gains in the energy sector following Repsol's (REP.MC: Quote) deal with Sinopec Group. [.EU]
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.63 percent in early trade.
* Oil rose to $81, a seven-week high, boosted by stronger-than-expected U.S. and Chinese economic data which raised hopes of demand recovery in the world's largest consumers. [O/R]
* Gold hit record highs for a sixth successive session as the dollar fell to a six-month low against the euro, with expectations for further U.S. monetary easing driving strong demand for the precious metal. [GOL/] Continued...