CANADA STOCKS-TSX may open little changed; commodity prices dip

Wed Dec 8, 2010 8:49am EST
 
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Dec 8 (Reuters) - Toronto's resource-heavy main stock index, which touched its strongest level in two years on Tuesday, looked set to open little changed on Wednesday as commodity prices retreated from recent highs.

FACTORS TO WATCH

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

* U.S. stock index futures were little changed, pressured by rising bond yields and a stronger dollar. [.N]

* European shares rose slightly by midday, with a major index holding above a key technical level, as gains in insurers more than offset falls in heavyweight miners as the dollar edged up. [.EU]

* Markets in Asia were largely lower but Nikkei ended 0.9 percent higher as stronger dollar encouraged buying.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.27 percent in early trade.

* Oil fell for a second day as a spike in U.S. Treasury yields boosted the dollar while a report showed a larger-than-expected increase in U.S. gasoline stockpiles. [O/R]   Continued...