CANADA STOCKS-TSX may extend gains on commodities, BoE action

Thu Oct 6, 2011 8:35am EDT
 
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Oct 6 (Reuters) - Toronto's main stock index was set to extend gains on Thursday from the previous session on rising commodity prices and after Bank of England took monetary policy action to try to boost its economy.

World stocks were firmer after the Bank of England pledged to buy a a bigger-than-expected 75 billion pounds in assets to bolster the UK economy. [MKTS/GLOB]

FACTORS TO WATCH

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

* U.S. stock index futures rose, following two days of market gains as optimism grew that European policymakers were making progress in efforts to shore up stressed banks. [.N]

* European shares rose, with a blue-chip index flirting with levels not seen in five weeks, as banking stocks climbed on rising hopes of coordinated action to recapitalise the lenders and shelter them from the region's debt crisis. [.EU]

* Most Asian bourses were up. Crude rose on surprise fall in U.S. inventories and concerns that Libya's largest oilfield could be damaged. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 0.51 percent in early trade.   Continued...