CANADA STOCKS-TSX set to open higher on EU rescue deal

Mon May 10, 2010 8:47am EDT
 
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May 10 (Reuters) - Toronto's main stock index looked set to open much higher on Monday after global policymakers came up with an emergency rescue package worth around $1 trillion aimed at preventing Greece's debt crisis from spreading through the euro zone. [ID:nSGE6490HH]

European and Asian shares rallied on the news. Wall Street is also set for a strong rebound with stock futures up about 4 percent. [.N]

The Bank of Canada announced on Sunday it would re-establish a US$30 billion currency swap agreement with the U.S. Federal Reserve in response to liquidity pressures in European markets. [ID:nN0949279]

Here is some news that could affect stock prices:

OIL UP

U.S. oil prices rallied more than $3 per barrel to above $78 after policymakers agreed a $1 trillion rescue package to stabilise world financial markets and try to resolve the euro zone debt crisis. [O/R]

METALS RISE

Industrial metals bounced taking heart from news of a $1 trillion emergency package to stabilise markets and resolve the Greek debt crisis that has threatened to sink the euro. [MET/L]

GOLD   Continued...