CANADA STOCKS-TSX may open higher as commodities edge up

Fri Aug 12, 2011 8:27am EDT
 
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Aug 12 (Reuters) - Toronto's main stock index looked set to open higher on Friday, building on gains of nearly 3 percent in the previous session, helped by a rise in the price of commodities including oil.

FACTORS TO WATCH

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

* U.S. futures were higher on Friday, signaling stocks would extend the previous day's big gains, after a rally in Europe and another strong outlook from a technology company. [.N]

* European shares extended gains, with banking stocks rising further following the short-selling ban on financial shares by France, Italy, Spain and Belgium. [.EU]

* Markets in Asia were largely high but Tokyo stocks dipped further below the 9,000 line, as the yen's strength prompted foreigners to sell carmakers, pulling Toyota Motor to its lowest level this year. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.24 percent in early trade.

* Oil rose above $108 a barrel, as the dollar weakened and equity markets strengthened, but concerns about oil demand in industrialised nations kept a lid on prices. [O/R]   Continued...