CANADA STOCKS-TSX set to open higher with commodities firm

Mon Jan 24, 2011 8:54am EST
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Jan 24 (Reuters) - Canadian stocks looked set to open higher on Monday, with a rise in commodity prices on growing supply concerns expected help lift the resource-rich market.


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

* U.S. stock index futures were little changed as investors assessed whether a rally that started about two months ago had any more steam left. [.N]

* European shares fell, after data showed euro zone growth accelerating, but with the peripheral countries way behind Germany, and Philips Electronics PHG.AS down on below-forecast fourth-quarter profits. [.EU]

* Asian stocks outside Japan struggled to hold on to gains, as investors remained wary before a slew of corporate earnings in the U.S.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.45 percent in early trade.

* Brent crude oil held near $98 a barrel on renewed confidence that developed economies are recovering and as Saudi Arabia's oil minister predicted strong oil demand in 2011. [O/R]   Continued...