CANADA STOCKS-TSX may open lower after China hikes rates

Tue Oct 19, 2010 8:34am EDT
 
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Oct 19 (Reuters) - Toronto's main stock index could open lower on Tuesday after China, the world's biggest resource consumer, surprised investors with its first increase of interest rates in nearly three years

FACTORS TO WATCH

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

* U.S. stock index futures pointed to a weaker start as Bank of America's result showed net loss quadrupled from a year ago, while iPad maker Apple's quarterly sales of the gadget and gross margins came in below expectations [.N]

* Canada's central bank is expected to hold its key policy rate at 1 percent in its scheduled announcement at 9 a.m. (1300 GMT), while the tone of its statement will be closely followed for further direction. [ID:nN15144891]

* European shares edged up led by industrial and financial stocks [.EU]

* Asian markets were mixed, with weakness in the technology and commodity sectors limiting the gains

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.84 percent in early trade.   Continued...