CANADA STOCKS-TSX set to open lower as Ireland optimism fades

Mon Nov 22, 2010 8:35am EST
 
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Nov 22 (Reuters) - Toronto's main stock index looked set to open lower on Monday, with investors cautious about the risk of further debt problems in the euro zone periphery, even after the EU and IMF agreed to help bail out Ireland.

FACTORS TO WATCH

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

* U.S. stock index futures slipped as enthusiasm waned over a resolution to help bail out Ireland and worries over contagion remained. [.N]

* European shares turned negative on Monday, led lower by banking stocks, as Ireland's bailout failed to quash fears of contagion to other euro zone economies. [.EU]

* Most markets in Asia were also down, while Nikkei bucked the trend to gain almost 1 percent to a fresh five-month closing high, as receding worries about the yen's strength encouraged a shift back to Japanese shares led by foreign investors.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.26 percent in early trade.

* Oil rose towards $83 on Monday, along with a relief rally in broader markets, after global financial authorities agreed to save debt-swamped Ireland and protect Europe's wider financial stability. [O/R]   Continued...