CANADA STOCKS-TSX may open lower after China rate hike

Tue Apr 5, 2011 8:45am EDT
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April 5 (Reuters) - Toronto's resource-heavy main stock index looked set to open lower on Tuesday after China raised interest rates for the second time this year, knocking commodity prices lower.


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

* China's central bank increased interest rates on Tuesday for the fourth time since October, raising suspicions that data next week may show inflation rose more than expected in March. [ID:nL3E7F51LX]

* U.S. stock index futures fell after a slide in Apple Inc, which had its weighting cut in a rebalancing of shares in the Nasdaq 100, forcing some to sell the iPhone maker's stock. [.N]

* European shares traded flat in choppy trade with inflation concerns intensifying as crude prices hovered around 2-year highs, prompting investors to pause for breath following a three-week rally. [.EU]

* Asian shares were down as investors worried rising commodities prices could erode corporate profit margins.


* TMX Group Inc. (X.TO: Quote): The owner of the Toronto Stock Exchange will put forward a formal submission to Canadian regulators in the "coming weeks" regarding its proposed takeover by London Stock Exchange, TMX CEO Tom Kloet said on Monday. [ID:nN04266784]   Continued...