CANADA STOCKS-TSX may open higher with commodities firm

Tue Jan 18, 2011 8:34am EST
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Jan 18 (Reuters) - Canadian stocks looked set to open slightly higher on Tuesday, helped by firm commodity prices, with the Bank of Canada widely expected to announce it will hold interest rates steady before the market opens.


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

* The Bank of Canada is widely expected to hold interest rates at 1 percent, with focus primarily on the tone of the accompanying statement. [CA/POLL] [ID:nN25118365]

* The Canadian dollar rose to a two-and-a-half year high against the U.S. dollar on Tuesday as it continued to benefit from firmer oil prices and solid economic fundamentals, with traders citing sovereign demand. [CAD/]

* S&P futures gave up their gains to turn flat on Tuesday after Citigroup Inc (C.N: Quote) reported fourth-quarter results. [.N]

* European shares hit a 28-month high on Tuesday, with stronger metals on a weaker dollar and supply worries boosting miners, while automakers advanced on hopes that improving economic outlook will boost vehicle demand. [.EU]

* Asian shares were up on signs of greater global economic growth and positive earnings reports.