CANADA STOCKS-TSX may open lower on commodities, U.S. data

Thu Jan 13, 2011 8:49am EST
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Jan 13 (Reuters) - Toronto's main stock index looked set to open lower on Thursday, as falling commodity prices and weak U.S. labor market data offset news of another multibillion dollar merger in the Canadian mining sector.


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

* U.S. stock index futures added to losses on Thursday after U.S. jobless claims jumped unexpectedly last week to their highest level since October, indicating continued weakness in the labor market. [.N]

* European shares were little changed by midday trade after 28-month highs a day earlier as miner-led declines and some market consolidation offset a good response to Spain's bond auction. [.EU]

* Hong Kong shares rose, extending their weekly gains to over 5 percent as broad buying of large caps, in particular laggard financials, by funds helped lift the market and Japan's Nikkei average rose to its highest close in eight months, buoyed by gains in undervalued financial shares.


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

* Brent oil futures climbed towards $100 a barrel, piling pressure on OPEC to raise production to prevent high prices hurting the world economy. [O/R]   Continued...