CANADA STOCKS-TSX set to rise as commodities gain on yuan move

Mon Jun 21, 2010 9:05am EDT
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June 21 (Reuters) - Toronto's main stock index looked set to open higher on Monday as commodity prices rose on hopes that a more flexible Chinese yuan would increase commodity demand from the world's largest consumer.

China's central bank said over the weekend that it was ready to make the yuan more flexible ahead of the upcoming G20 summit. [ID:nN20208975]

Wall Street is also poised for a higher open. [.N]

European shares rose for a ninth session, hitting a five-and-a-half week high, with mining stocks featuring among the top performers.

Asian markets rallied with China's key stock index, up 3 percent to its highest close in three weeks.

Here is some news that could affect stock prices:


Biovail Corp BVF.TO BVF.N, Canada's biggest publicly traded drugmaker, said on Monday it had agreed to merge with U.S.-based Valeant Pharmaceuticals International VRX.N, in a deal that would expand the new company's presence in North America. [ID:nSGE65K07S]

OIL RISES   Continued...