CANADA STOCKS-TSX set to drop at open on Japan nuclear crisis

Tue Mar 15, 2011 8:45am EDT
 
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March 15 (Reuters) - Toronto's main stock index was set to open sharply lower on Tuesday as Japan faced a potential catastrophe after a quake-crippled nuclear power plant exploded and sent low levels of radiation floating towards Tokyo.

For further details see: [ID:nLDE72D2FT]

Uranium miners looked set for further sharp falls. U.S.- traded shares of Canada's Cameco Corp (CCO.TO: Quote) fell 15.7 percent in premarket trading.

FACTORS TO WATCH

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

* U.S. stock index futures tumbled about 2 percent as Japan faced a looming nuclear crisis, sending global equities sharply lower in what could be a prolonged bout of turmoil for financial markets. [.N]

* European shares fell to their lowest in more than 14 weeks after Japan warned of significantly higher radiation levels following explosions at one of its quake-stricken nuclear power plants. [.EU]

* Asian markets were in red with Japanese stocks plunging more than 10 percent -- heading for their biggest drop since 1987 -- compounding a slide of 7.6 percent the day before.

COMMODITY PRICE MOVES   Continued...