CANADA STOCKS-TSX set to open lower on weaker commodity prices

Mon May 16, 2011 8:49am EDT
 
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May 16 (Reuters) - Toronto's main stock index is set to open slightly lower on Monday, weighed by weaker metal and oil prices, which fell on uncertainty about the global economy and a rise in risk aversion.

FACTORS TO WATCH

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

* U.S. stock index futures fell as investors shed riskier assets before euro zone finance ministers meet to discuss the region's debt crisis. [.N]

* European shares fell, on track for a third session of losses, with banks slipping as the arrest of IMF chief Dominique Strauss-Kahn added fresh uncertainty to the euro zone debt crisis. [.EU]

* Japan's Nikkei stock average hit a 1-month low to end just under a key technical level, hurt by volatile commodities as well as concerns about global growth.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.23 percent in early trade.

* Oil fell more than $1 per barrel Monday as worries over the restructuring of euro zone debt and doubts about the pace of global growth encouraged investors to reduce risk. [O/R]   Continued...