CANADA STOCKS-TSX may rise on firmer commodities; Italy eyed

Tue Nov 8, 2011 8:20am EST
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TORONTO Nov 8 (Reuters) - Toronto's main stock index looked set to open higher on Tuesday, supported by stronger commodity prices, ahead of a crucial Italian parliamentary vote on budget reforms.


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

* U.S. stock index futures rose as lawmakers in Rome readied for a crucial vote on public finances that marks the latest chapter in the euro zone debt crisis. [.N]

* European shares rose, bouncing from two days of losses, as upbeat corporate news from the likes of telecom heavyweight Vodafone helped offset some investors' concerns about the euro zone debt crisis. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 0.29 percent in early trade.

* Oil prices rose to near $116 a barrel as investors said strong seasonal fundamentals and concerns about an escalating dispute over Iran's nuclear program outweighed worries caused by Italy's sovereign debt risk. [O/R]

* Gold was steady, consolidating near a one and a half month high, with investors holding onto the safe haven asset due to fears that the euro zone debt crisis might engulf Italy. [GOL/]   Continued...