CANADA STOCKS-TSX may open higher on US stimulus hopes, commods

Mon Aug 29, 2011 8:36am EDT
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Aug 29 (Reuters) - Canadian stocks were poised to open higher on Monday, taking their cue from Wall Street, as commodity prices rose after Federal Reserve Chairman Ben Bernanke on Friday left the door open for further action to stimulate the U.S. economy.


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

* U.S. stock index futures jumped, signaling a strong open on Wall Street, as investors were relieved to see Hurricane Irene caused less damage than feared in New York City over the weekend. [.N]

* European shares edged up, led by cyclical sectors as investors looked for bargains after Federal Reserve Chairman Ben Bernanke left room for more measures to stimulate the weak U.S. economy. [.EU]

* Asian stocks were mostly up with Hong Kong shares rising, boosted by earnings-driven gains in oil producers, while China shares fell, weighed by fresh moves by the central bank to further decrease money supply. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.18 percent in early trade.

* Brent crude steadied around $111 as the dollar weakened and after a hurricane swept up the U.S. east coast, with no reports so far of serious damage to refineries and terminals. [O/R]   Continued...