CANADA STOCKS-TSX poised to open higher on firm resources
Sept 24 (Reuters) - Toronto's resource-heavy index .GSPTSE could open higher on Friday with gold rallying to fresh record highs, while copper and aluminium swung to new five-month highs helped by downward U.S. dollar trend.
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures edged higher on Friday, rebounding after the S&P 500 fell below a key technical level at 1,130, as investors awaited a batch of economic data for further clues on the state of the economy. [.N]
* European shares were down at midday on Friday, with drugs giant Merck (MRCG.DE: Quote) tumbling after European regulators rejected a key drug and banks and miners lower on economic growth worries. [.EU]
* Asian stocks were mixed with the Nikkei down 1 percent, failing to stay in positive territory as momentum gained from talk of fresh intervention by Japanese authorities to weaken the yen petered out when no confirmation emerged.
* RBC Global Asset's forecast: Toronto's main stock index will likely climb to 13,500 in the fourth quarter of 2011 as growth in emerging economies such as China and Brazil lead the global economic recovery, the chief economist of RBC Global Asset Management said. [ID:nN23265806]
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.25 percent in early trade. Continued...