CANADA STOCKS-TSX may open higher on commodity strength

Mon Aug 9, 2010 8:59am EDT
 
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Aug 9 (Reuters) - Toronto's main stock index looked set to open higher on Monday, with stronger commodity prices likely to boost the resource-heavy market.

Canadian equity futures pointed to a higher open. <0#SXF:>. The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was up 0.48 percent in early trade.

Wall Street is also set for a higher open on expectations that the U.S. Federal Reserve will renew its promise of keeping interest rates near zero for "an extended period" on Tuesday and signal that it is prepared to throw more money at the flagging economic recovery. [.N]

European shares rose above key resistance levels, with commodity stocks leading the risers, supported by stronger metal and oil prices.

Asian stocks edged higher, while Nikkei bucked the trend as stronger yen weighed on exporters after the dollar approached a 15-year low against the yen.

Here is some news that could affect stock prices:

OIL RISES

Oil climbed above $81 a barrel on Monday, extending last week's two percent rise, as weakness in the dollar and geopolitical tensions continued to provide support, despite doubts about the strength of the U.S. economy. [O/R]

COPPER CLIMBS   Continued...