CANADA STOCKS-TSX set to open higher on commodity price jump

Tue Dec 7, 2010 8:46am EST
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Dec 7 (Reuters) - Toronto's resource heavy main stock index looked set to open higher on Tuesday, buoyed by rallying commodity prices and expectations the Bank of Canada will hold interest rates steady.


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

* U.S. stock index futures rose after U.S. President Barack Obama forged a compromise with Republicans to extend Bush-era tax breaks for two years. [.N]

* All 44 forecasters polled by Reuters expect the Bank of Canada to keep interest rates on hold at 1 percent on Dec. 7, but they were divided on the timing of the next hike in 2011. [CA/POLL] [ID:nN02172937]

* European shares hit a 26-month high, with commodity issues gaining on strong crude and metals prices and as a deal to extend U.S. tax cuts helped lift confidence in the economy. [.EU]

* Asian markets were largely up, but Nikkei edged lower as stronger yen encouraged investors to book profits.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.87 percent in early trade.   Continued...