CANADA STOCKS-TSX may open higher on strong Chinese data

Tue May 10, 2011 8:29am EDT
 
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May 10 (Reuters) - Toronto main stock index looked set to open higher on Tuesday after strong Chinese trade data lifted optimism about the pace of economic recovery and demand for raw materials.

FACTORS TO WATCH

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

* U.S. stock index futures rose as strong Chinese trade data eased concerns of a slowdown in the world's second-largest economy and pointed to strong global demand. [.N]

* European shares rose, with higher metals prices boosting heavyweight miners as strong Chinese trade data lifted optimism about the pace of economic recovery. [.EU]

* Markets in Asia were mixed, with Nikkei edging up on a report that Toyota Motor Corp's output will likely return to normal two or three months earlier than expected.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.32 percent in early trade.

* Oil prices shed more than 1 percent amid higher margins for oil futures trade but unexpectedly high Chinese crude imports were supportive. [O/R]   Continued...