CANADA STOCKS-TSX may open lower on political unrest in Egypt

Fri Feb 11, 2011 8:47am EST
 
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Feb 11 (Reuters) - Canadian stocks looked set to open lower on Friday, as political turmoil in the Middle East following Egyptian President Hosni Mubarak's refusal to step down weighs on investor sentiment, though higher oil prices could lift energy shares.

FACTORS TO WATCH

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

* The Canadian dollar hit a session high against its U.S. counterpart on Friday after trade data for December beat expectations, with the country returning to a trade surplus. [CAD/]

* U.S. stock index futures fell as uncertainty gripped markets following Egyptian President Hosni Mubarak's refusal to step down after more than two weeks of civil protests throughout the country. [.N]

* European shares fell, extending the week's declines for a fourth successive day, with uncertainty in Egypt worrying investors and phone maker Nokia NOK1V.HE dropping in reaction to the announcement of its new strategy and a tie-up with Microsoft. [.EU]

* Asian stocks fell more than a percent and were on course for their biggest weekly loss in nine months as investors shunned risk on concerns about the pace of policy tightening in the region.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.14 percent in early trade.   Continued...