CANADA STOCKS-TSX may weaken on fears about China rates, Ireland

Fri Nov 12, 2010 8:42am EST
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Nov 12 (Reuters)- Toronto's main stock index looked set to open lower on Friday after commodity prices tumbled on fears of another Chinese rate hike and the ability of some euro zone countries to service their debts.


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

* U.S. stocks index futures fell on expectations China would raise interest rates, hitting commodity prices and sending the local stock market into a tailspin. [.N]

* European stocks dropped in early trade, losing ground for the third straight session, hurt by escalating fears over Ireland's debt problems that also dragged the euro to a six-week low versus the dollar. [.EU]

* Asian stocks were down, led by a 5 percent drop in the Shanghai composite index, the biggest single-day decline since May.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 1.45 percent in early trade.

* Oil fell more than 2 percent to below $86 a barrel, retreating from a 25-month high reached in the previous session, as concern about Irish debt spurred a broad retreat from riskier assets. [O/R]   Continued...