CANADA STOCKS-TSX may open lower as softer commodities weigh

Mon Oct 18, 2010 8:48am EDT
 
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Oct 18 (Reuters) - Toronto's main stock index could open lower on Monday hurt by falling commodity prices, which declined as the U.S. dollar bounced back from its recent hefty losses.

FACTORS TO WATCH

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

* Wall Street pointed to a lower open on Monday as investors remained cautious ahead of major corporate results and factory data that could offer a clue whether the economy is slipping back into recession or not. [.N]

* European shares turned positive, with financial services companies continuing their rise, while earlier takeover news from BlueBay had also lifted sentiment. [.EU]

* Asian stocks pulled back from a two-year high as markets awaited details of a widely expected easing in U.S. monetary policy.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was flat in early trade.

* Oil hovered near $81 a barrel on Monday, after earlier hitting its lowest in over a week, pressured by uncertainty over the U.S. economic outlook and as the battered dollar rallied. [O/R]   Continued...