CANADA STOCKS-TSX may open firmer after strong U.S. results

Fri Jul 23, 2010 8:54am EDT
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July 23 (Reuters) - Canada's main stock index could open slightly higher on Friday as strong U.S. company results lifted investor sentiment, offsetting the impact of softer commodity prices.

Canadian equity futures pointed to a higher open <0#SXF:>, even though the Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was down slightly in early trade.

Wall Street is also expected to open higher. [.N]

Other supportive news included a report that Canada's annual inflation rate slowed in June from May, helped by moderating energy prices, suggesting the central bank has breathing room to take a gradual approach to future interest rate hikes. [ID:nN23500487]

Europe's banking stress tests will help set the theme for the day's trading, but investors will also look for clues from corporate results.

European shares edged up, extending a rally into a fourth day, after a survey showed German business sentiment posted a record jump in July to its highest level in three years.

Asian markets also rose with commodity-related stocks among the top gainers along with technology and healthcare shares.

Here is some news that could affect stock prices:

OIL SLIPS   Continued...