CANADA STOCKS-TSX may open lower on escalating tension in Libya

Tue Feb 22, 2011 8:47am EST
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Feb 22 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday as a revolt in Libya triggered a sell-off in global stocks, though the resulting spike in oil prices was expected to boost shares of energy companies.


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

* U.S. stock index futures tumbled as a revolt in Libya drove investors away from risky assets and prompted a spike in crude oil prices.[.N]

* European shares fell, adding to a steep decline in the previous session, as violence in Libya intensified worries about unrest spreading further across the region, prompting investors to take profits.[.EU]

* Asian stock prices fell with Japan's Nikkei slipping from 9-1/2-month highs for its first decline in seven days in profit-taking.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 2.02 percent in early trade.

* Both Brent LCOc1 and U.S. crude oil CLc2 rallied to 2 1/2-year highs on concerns the revolt in Libya could spread to other major oil producers in the Middle East and North Africa.[O/R]   Continued...