CANADA STOCKS-TSX may open lower as soft gold offsets firm data

Fri Jun 24, 2011 8:58am EDT
 
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June 24 (Reuters) - Toronto's main stock index looked set to open slightly lower on Friday, with a softer bullion price likely to weigh on shares of gold miners, offsetting the impact of some firmer-than-expected U.S. economic data.

FACTORS TO WATCH

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

* U.S. stock index futures added to their gains on Friday, with Dow futures turning positive as data showed durable goods orders rose more than expected in May. [.N]

* European shares pared gains on Friday as traders pointed to a suspension of trade of Italian banking stocks. [.EU]

* Asian markets rose, with Nikkei average rising to a three-week closing high, led by Chinese stocks on hopes inflation will ease soon.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.42 percent in early trade.

* Oil's sharp sell-off paused as the impact of a surprise announcement of emergency fuel stocks from consumer nations faded. [O/R]   Continued...