CANADA STOCKS-TSX set to open higher on rising commodity prices

Mon Dec 13, 2010 8:43am EST
 
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Dec 13 (Reuters) - Toronto's main stock index looked set to open higher on Monday, buoyed by rising commodity prices after China held off on raising interest rates over the weekend despite high inflation pressure.

FACTORS TO WATCH

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

* U.S. stock index futures were higher after China decided to leave interest rates unchanged. [.N]

* European shares rose by midday, on track to post their sixth straight session of gains, with mining shares boosted by a rally in metals prices as confidence in the economic recovery gathered pace. [.EU]

* Asian markets were largely up, with Nikkei clawed back towards a seven-month high as Chinese shares showed resilience to Beijing's efforts to curb inflation and a softer yen supported exporters.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 1.16 percent in early trade.

* Oil rose more than a dollar in line with other commodities after OPEC agreed to keep output targets unchanged despite a surge in heating fuel demand. [O/R]   Continued...