CANADA STOCKS-TSX may open up with commodities; EU summit eyed

Wed Oct 26, 2011 8:41am EDT
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Oct 26 (Reuters) - Canadian stocks looked set to open higher on Wednesday, with natural resource shares helped by rising commodity prices, though investors were on guard ahead of the crucial European Union debt summit.

Investors will also closely watch the Bank of Canada's Monetary Policy Report after the central bank said on Tuesday, the outlook for Canadian economy had weakened, citing European debt crisis and slowing growth in its top trade partner, United States. [ID:nN1E79O0F9]


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

* U.S. stock index futures rose after the S&P fell 2 percent in the previous session as optimism about corporate earnings offset concerns about the results of a meeting of European leaders to tackle the region's debt crisis. [.N]

* European shares edged higher in thin, choppy trade ahead of a meeting of regional leaders to try and resolve the two-year-old euro-zone debt crisis. [.EU]

* Asian shares declined ahead of a key meeting of European policymakers later in the session, with concerns heightening that the outcome to contain Europe's sovereign debt crisis could fall short of expectations. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 0.48 percent in early trade.   Continued...