CORRECTED - CANADA STOCKS-TSX set to open lower on China tightening

Fri Nov 19, 2010 10:38am EST
 
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(Corrects headline to show China move was to hike bank reserve requirements not rates)

Nov 19 (Reuters) - Toronto's main stock index looked set to open lower on Friday after news of China's central bank taking steps to battle inflation by raising bank reserve requirements hit market sentiment globally.

FACTORS TO WATCH

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

* U.S. stock index futures were lower on Friday after China's central bank took steps to battle inflation. [.N]

* European shares were down around midday, as China's central bank decision to raise banks' required reserves felled worries over the country's appetite for commodities, which hit mining stocks. [.EU]

* Asian markets were mixed with Nikkei gaining, propelled by hedge fund inflows from overseas and with a fall in the yen providing additional support.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.38 percent in early trade.   Continued...