CANADA STOCKS-TSX may open higher on China commodity boost

Wed Jun 9, 2010 8:47am EDT
 
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June 9 (Reuters) - Toronto's main stock index could open higher on Wednesday as commodity prices got a boost following a report that Chinese exports grew about 50 percent from a year earlier in May.

Wall Street is also poised for a higher start as Texas Instruments said second-quarter earnings and revenue would be at the high end of its previous estimates. [.N]

Investors will be closely watching Fed Chairman Ben Bernanke's testimony before the House Budget Committee, while keeping a tab on the Fed Beige Book.

European shares were higher but gains were limited on concerns that BP Plc will have to suspend its dividend payment under pressure from U.S. politicians. Most Asian markets rose while Japanese stocks bucked the trend, with blue chips leading the slide.

Here is some news that could affect stock prices:

CHINA EXPORTS

Chinese exports in May grew about 50 percent from a year earlier, sources said on Wednesday, a figure that blew past expectations and fuelled a rise in stock markets globally. [ID:nTOE65805R]

OIL RISES

Oil rose above $72 on Wednesday on news of strong Chinese exports and after an industry report showed a larger-than-expected decline in U.S. crude stocks. [O/R]   Continued...