CANADA STOCKS-TSX may open lower on soft data, commodity prices

Tue May 17, 2011 8:52am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

May 17 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday, weighed down by soft commodity prices and unexpectedly weak U.S. housing data.

FACTORS TO WATCH

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

* The S&P 500 and Dow index futures turned negative on Tuesday after data showed U.S. housing starts and permits fell in April. [.N]

* European shares edged lower, weighed on by persistent peripheral euro zone debt concerns with OMV OMVV.VI among the top fallers after a refinancing plan. [.EU]

* Nikkei inched higher, helped by a weaker yen, but the gains were limited by a slide in the utility sector, dragged down by Tokyo Electric Power Co.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.16 percent in early trade.

* U.S. crude oil futures dipped in choppy trading on Tuesday as traders weighed forecasts that domestic petroleum inventories rose across the board last week and as the dollar rose. [O/R]   Continued...