CANADA STOCKS-TSX may open higher on commodity price gains

Wed Jul 21, 2010 8:52am EDT
 
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July 21 (Reuters) - Toronto's main stock index could open higher on Wednesday after commodity prices rose on optimism about the strength of the economic recovery and solid U.S. company earnings that boosted investor sentiment.

Canadian equity futures <0#SXF:> pointed to a stronger start as the Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.68 percent in early trade.

Wall Street is also poised to open higher boosted by upbeat earnings from Apple (AAPL.O: Quote) that reported after markets closed on Tuesday. [.N]

European stocks rose in a broad rally, climbing for the first time in a week, with investors scooping up recently battered banking shares on hopes the sector's stress test results will be reassuring.

Major Asian markets were up on optimism that China may roll back policy tightening measures later this year, but Nikkei bucked the trend weighed down by worries about a stronger yen.

Here is some news that could affect stock prices:

OIL UP

Oil rose above $78 a barrel on Wednesday after Tuesday's strong U.S. corporate earnings raised optimism over the strength of economic recovery in the world's largest economy. [O/R]

COPPER AT 3-WEEK HIGH   Continued...