CANADA STOCKS-TSX set to open higher on strong metal, oil prices

Wed Apr 6, 2011 8:34am EDT
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April 6 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Wednesday, with the mining sector in the spotlight after gold rallied to a record high and copper prices rose to the highest in about a week.


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

* Futures on the S&P 500 hit their highest level in more than a month as investors bet the upcoming earnings season and more merger activity will continue to lift equities higher. [.N]

* European equities drifted lower after hitting four-week highs, with EDF EDF.PA dragging down utilities following a target price cut, while banks fell on worries about the euro zone's debt crisis. [.EU]

* Asian markets were mixed with Shanghai breaching the key 3000 resistance level while the Nikkei fell to a one-week closing low, losing ground for a second straight day as concerns grew about mounting production losses for quake-hit manufacturers.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.98 percent in early trade.

* Oil prices stayed near a 2-year peak supported by widespread unrest in the Middle East and North Africa and dollar weakness ahead of Europe's central bank rate decision on Thursday. [O/R]   Continued...