CANADA STOCKS-TSX may open higher on strong US corporate results

Thu Oct 21, 2010 8:42am EDT
 
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Oct 21 (Reuters) - Toronto's main stock index looked set to open higher on Thursday after investor sentiment got a boost from a suite of strong corporate earnings reports in the United States.

FACTORS TO WATCH

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

* U.S. stock index futures pointed to a higher start, helped by firm results from Caterpillar Inc CAT.N, online auctioneer eBay Inc EBAY.O and Netflix Inc NFLX.O, the DVD rental and movie streaming service. [.N]

* European stocks edged up, with phone maker Nokia NOK1V.HE rising after forecast-beating results, though economic worries rekindled by news of slowing growth in the euro zone capped index gains. [.EU]

* Markets in Asia were mixed with Nikkei average and Shanghai's benchmark down 0.05 percent and 0.7 percent respectively.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.33 percent in early trade.

* Oil slipped back towards $82 per barrel, consolidating after a sharp rise on a slight slowing in Chinese economic growth and following news of another build in U.S. crude oil stocks. [O/R]   Continued...