CANADA STOCKS-TSX may open lower after Chinese data

Wed May 11, 2011 8:59am EDT
 
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May 11 (Reuters) - Toronto's resource-heavy main stock index looked set to open lower on Wednesday following news that Chinese inflation eased in April, suggesting the world's second-largest economy might be cooling.

FACTORS TO WATCH

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

* U.S. stock index futures edged higher on Wednesday on follow-through after three days of gains on Wall Street as growth in China showed signs of cooling. [.N]

* European stocks edged higher by midday helped by upbeat earnings, which eclipsed ongoing worries that Greece may request another state bailout. [.EU]

* Most markets in Asia traded in positive territory, with the Nikkei up 0.5 percent, while Hang Seng was flat and Kospi rose 1.3 percent after a holiday on Tuesday.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.57 percent in early trade.

* Oil prices fell, turning negative after earlier highs as the focus shifted from robust demand from China to signs that the world's second-largest economy might be cooling. [O/R]   Continued...