CANADA STOCKS-TSX set to open lower on Korea, Ireland woes

Tue Nov 23, 2010 8:44am EST
 
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Nov 23 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday as commodity prices fell and investor anxiety rose, hurt by an exchange of artillery fire on the Korean peninsula and Ireland's ongoing debt woes.

FACTORS TO WATCH

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

* Canada's annual inflation rate unexpectedly jumped to a two-year high of 2.4 percent in October, but analysts questioned whether the data would prompt the Bank of Canada to raise interest rates sooner than expected. [ID:nN23119481]

* U.S. stock index futures were sharply lower as rising tensions on the Korean peninsula added to concerns about global economic conditions. [.N]

* Thailand's PTT Exploration and Production PTTE.BK is to buy 40 percent of Statoil's (STL.OL: Quote) (STO.N: Quote) Canadian oil sands project for $2.3 billion, joining an Asian investor rush into this energy source. [ID:nSGE6AM02H]

* European shares extended losses and hit a new low for the day, on worries about political and financial troubles in Ireland, possible contagion to other peripheral euro zone countries and hostilities in the Korean peninsula. [.EU]

* Asian stock markets that were still trading when the Korean news broke extended the day's losses, pushing MSCI's index of Asia Pacific shares outside Japan down 2.2 percent.

COMMODITY PRICE MOVES   Continued...