REFILE-CANADA STOCKS-TSX may open lower on debt fears; gold up

Mon Jul 18, 2011 9:04am EDT
 
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(Refiles to remove extraneous word in lead)

July 18 (Reuters) - Toronto's resource heavy main stock index looked set to open lower on Monday, as investors fled riskier assets on a confluence of debt concerns on both sides of the Atlantic, pushing safe-haven gold to a fresh high.

FACTORS TO WATCH

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

* U.S. stock index futures were lower as the deadline for a U.S. debt deal neared with no resolution in sight and investors continued to fret over ongoing fiscal problems in Europe. [.N]

* European shares fell sharply, and were testing key technical lows, with the financial sector among the biggest fallers as long-awaited bank stress tests result served only to intensify worries about the regional debt crisis. [.EU]

* Markets in Asia were largely low eyeing for a resolution to a confluence of debt concerns on both sides of the Atlantic.

COMMODITY PRICE MOVES

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