CANADA STOCKS-TSX may open down; euro zone fears hit commodities

Tue Jul 12, 2011 8:19am EDT
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TORONTO, July 12 (Reuters) - Toronto's main stock index looked set to open sharply lower on Tuesday as deepening euro zone crisis made investors wary of committing more cash to riskier assets, dragging equities and commodities lower.


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

* Wall Street was headed for a third day of losses as fears of a systemic crisis in the euro zone grew, sending index futures sharply lower. [.N]

* European shares fell sharply to four-month lows, as jitters intensified that the deepening euro zone debt crisis could spread to larger economies such as Italy and Spain, putting at risk the region's financial stability. [.EU]

* Asian markets were down with HangSeng falling the most on a Moody's report reigniting fears over corporate governance in Chinese companies.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.45 percent in early trade.

* Oil fell sharply on fears that politicians will be powerless to stop the debt crisis in Europe from spreading to Italy and Spain, reinforcing fears about the outlook for the global economy. [O/R]   Continued...