CANADA STOCKS-TSX set to open higher with commodities firm
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.
FACTORS TO WATCH
* 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: Quote) 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.
COMMODITY PRICE MOVES
* 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...