CANADA STOCKS-TSX set for higher open on boost from Chinese data

Fri Dec 10, 2010 8:41am EST
 
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Dec 10 (Reuters) - Toronto's main stock index looked set to open higher on Friday, with resource-related companies in focus as strong Chinese economic data helped to support commodity prices.

FACTORS TO WATCH

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

* U.S. stock index futures rose following encouraging data out of China and as a two-year high in the S&P 500 had investors betting on a year-end rally. [.N]

* European stocks edged higher, on track to post their biggest weekly gain since early November, but the rise was limited by profit-taking in shares of financial institutions after a sharp 10-day rally. [.EU]

* Japanese stocks fell after a rise to a seven-month high earlier in the day prompted profit taking, although they outperformed the rest of Asia this week.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.21 percent in early trade.

* Oil rose for a second day to trade close to $89 as Chinese crude imports rebounded, and the International Energy Agency raised its global oil demand forecast. [O/R]   Continued...