CANADA STOCKS-TSX may open firmer, helped by steady commodities

Mon May 30, 2011 8:21am EDT
 
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May 30 (Reuters) - Toronto's main stock index looked set to open slightly higher on Monday, helped by steady commodity prices, although Greece's debt crisis might continue to deter investors from searching for riskier assets.

FACTORS TO WATCH

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

* European stocks inched up in holiday-thinned trade, with gains limited as German utilities dropped on a government decision to shut all the country's nuclear reactors by 2022. [.EU]

* Asian markets were largely in red, but bucking the trend was Hang Seng which inched higher, helped by banking shares.

COMMODITY PRICE MOVES

* Gold held steady, buoyed by the ongoing debt crisis in the euro zone, while silver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. [GOL/]

* Brent crude oil fell below $115 a barrel as investors weighed a slightly firmer U.S. dollar and the prospect of increased demand from the start of the U.S. summer driving season. [O/R]

* Shanghai copper fell on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May. [MET/L]   Continued...