CANADA STOCKS-TSX may open higher after commodity prices recover

Wed Apr 13, 2011 8:32am EDT
 
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Apr 13 (Reuters) - Toronto's main stock index looked set to open higher on Wednesday as commodity prices edged up and with financial stocks expected to gain after JPMorgan's quarterly results beat forecasts.

FACTORS TO WATCH

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

* U.S. stock index futures rose, rebounding from the previous day's decline, after results from JPMorgan Chase beat expectations and spurred bets that other bank earnings will be strong. [.N]

* European shares extended gains, with banks rising after results at JPMorgan Chase (JPM.N: Quote) beat forecasts. [.EU]

* Asian stocks rose with investors looking for fresh opportunities to bet on risky assets after a sharp drop in oil the previous day caused an unwinding of positions.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.27 percent in early trade.

* Oil crept back above $121, partly reversing a deep sell-off as foreign ministers met for talks on Libya's future and the market awaited U.S. inventory data for possible signs of demand attrition. [O/R]   Continued...