CANADA STOCKS-TSX may rise with commodities after China data

Mon Oct 24, 2011 8:42am EDT
 
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Oct 24 (Reuters) - Toronto's resource heavy main stock index looked set to open slightly higher on Monday on rising commodity prices after data showed China's vast manufacturing sector picked up moderately in October.

FACTORS TO WATCH

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

* U.S. stock index futures edged lower after the S&P 500 posted its third straight week of gains as investors had doubts European policymakers would come up with an agreement to fix the region's debt crisis. [.N]

* European shares turned negative as bank shares pared earlier session gains as difference remained between policymakers over the size of losses private bondholders of Greek government bonds will have to accept. [.EU]

* Markets in Asia were up, with Hong Kong shares surging to their best day in two weeks. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 0.62 percent in early trade.

* Brent crude oil rose above $110 a barrel after stronger Chinese manufacturing data suggested the world economy would avoid a double-dip recession, supporting fuel consumption and outweighing fears over weak European data. [O/R]   Continued...