CANADA STOCKS-TSX may open higher on strong commodity recovery

Mon May 9, 2011 8:43am EDT
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May 9 (Reuters) - Toronto's main stock index looked set to open higher on Monday as commodity prices recovered from the last week's hefty losses, which should boost shares of mining and energy companies.


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

* U.S. stock index futures rose as commodities and the euro bounced back from last week's hefty losses. [.N]

* European shares fell after top euro zone finance officials discussed the need for new adjustments to Greece's aid program, with fund managers advising caution on the euro zone peripheries. [.EU]

* Markets in Asia were largely up except Nikkei, which fell after Prime Minister Naoto Kan called for the closure of Chubu Electric's nuclear plant due to worries that a large earthquake could trigger another nuclear crisis.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 1.41 percent in early trade.

* Oil rebounded by more than $3, helped by a weaker dollar as the euro strengthened and bargain hunting by traders and investors after Brent crude lost over $16 last week. [O/R]   Continued...