CANADA STOCKS-TSX set to open higher as global stocks rally

Tue Jan 4, 2011 8:47am EST
 
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Jan 4 (Reuters) - Toronto's main stock index was set to open higher on Tuesday, matching gains by other major indexes on Monday when the Canadian market was closed, and helped by continued bullish sentiment.

FACTORS TO WATCH

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

* U.S. stock index futures rose as optimism continued to permeate the market ahead of data on factory orders and car sales. [.N]

* European equities were at a one-week high, with London-listed commodity shares tracking strong oil and metals prices and catching up with gains elsewhere when London was closed for a holiday on Monday. [.EU]

* Japanese stocks led Asian equities higher

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.17 percent in early trade.

* Oil hovered near the highest price levels in more than two years on accelerating manufacturing activity in developed economies and expectations that U.S. crude inventories will continue to drain. [O/R]   Continued...