CANADA STOCKS-TSX may open higher, buoyed by commodity gains

Tue Jul 19, 2011 8:47am EDT
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July 19 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Tuesday, supported by stronger commodity prices, as investors paused from their selloff of riskier assets triggered by the U.S. and European debt crises.

Investors will also be watching the 9 a.m. (1300 GMT) interest rate announcement by the Bank of Canada. The central bank is unanimously expected to leave its overnight target rate unchanged on Tuesday at 1 percent.


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

* U.S. stock index futures rose, indicating a rebound from a selloff in the previous session as strong results from IBM encouraged investors worried about macroeconomic uncertainties. [.N]

* European shares rose, with forecast-beating earnings lifting some companies, tech shares gaining after an upbeat statement from IBM and banks recouping some ground lost in the previous session's steep fall. [.EU]

* Markets in Asia were largely low but Hong Kong shares ended up helped by a late recovery in oil stocks, although a seasonal trading lull may keep prices range bound in the near term.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.65 percent in early trade.   Continued...