CANADA STOCKS-TSX may open higher on earnings, commodity prices

Thu Apr 21, 2011 8:25am EDT
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April 21 (Reuters) - Toronto's main stock index looked set to open higher on Thursday as investors returned to riskier assets on strong North American corporate earnings and a broader investor push into commodities.


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

* The U.S. dollar hit a 3 1/2-year low against the Canadian dollar as investors dumped the U.S. currency in favour of those with a higher yield. [CAD/]

* U.S. stock index futures rose, putting the S&P 500 on track for its first weekly gain in the last three, as strong corporate earnings and outlooks generated optimism about the economic recovery. [.N]

* European shares pushed ahead with the support of forecast-beating earnings from U.S. bellwether General Electric GE.N and Finnish phone maker Nokia NOK1V.HE, with technicals indicating an upward trend. [.EU]

* Asian stocks recovered sharply from a stumble earlier in the week and rose to their highest level since January 2008.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.31 percent in early trade.   Continued...