CANADA STOCKS-TSX set to rise at open as commodities climb

Mon Oct 25, 2010 8:50am EDT
 
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Oct 25 (Reuters) - Toronto's resource-heavy main stock index looked set to opener higher on Monday as commodities, which are largely priced in U.S. dollars, surged on broadbased weakness in the greenback.

FACTORS TO WATCH

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

* Wall Street is expected to start higher after encouraging earnings in the previous week gave a positive momentum to the investors. [.N]

* European shares edged higher, led by miners on stronger metals prices, after a Group of 20 agreement failed to stop the trend of a weaker dollar. [.EU]

* Markets in Asia were mostly high, but Nikkei average fell 0.3 percent as the yen reached a 15-year high.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.99 percent in early trade.

* Oil jumped by a dollar towards $83 a barrel, gaining for a second session as the U.S. currency weakened after a Group of 20 meeting. [O/R]   Continued...