CANADA STOCKS-TSX may open higher after strong Chinese data
July 13 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Wednesday after data showing China's economy grew faster than expected drew investors into equity markets and pushed metal prices higher.
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures rebounded from three days of losses on stronger-than-expected growth in China, but investors closely watched developments in Europe's debt crisis. [.N]
* European shares edged up, with miners rising after encouraging Chinese data, and Italian banks recovering some of the ground lost in recent days, when worries over the euro zone debt crisis escalated. [.EU]
* Asian markets closed higher with Nikkei bouncing off a major support line as foreign players covered short positions after steep losses.
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.33 percent in early trade.
* Oil prices rose slightly, supported by data showing China, the world's second largest oil consumer after the United States, is growing faster than expected, while data from the International Energy Agency predicted strong demand next year [O/R] Continued...