CANADA STOCKS-TSX may open lower on European fiscal fears

Tue Sep 13, 2011 8:39am EDT
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Sept 13 (Reuters) - Toronto's main stock index was set to open lower on Tuesday, tracking global markets, after reports cast doubt on a possible deal for China to buy Italian debt, heightening concerns about the fiscal crisis in Europe.


* Canadian and U.S. equity futures pointed to a lower open. <0#SXF:> [.N]

* European shares briefly turned positive helped by bank shares and news that French president Nicolas Sarkozy and German Chancellor Angela Merkel were set to make an announcement on Greece later in the day. But the French President's office then denied that report. [.EU]

* Japan's Nikkei rose almost 1 percent as short-covering emerged after a tumble the day before, but traders said gains may be short-lived. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.61 percent in early trade.

* Brent pared early gains to trade at $112.50 a barrel after the International Energy Agency (IEA) cut its estimate for demand growth and raised its supply forecast, countering support provided by rebounds in the euro and in stock markets. [O/R]

* Gold rose back into positive territory in volatile trade, climbing briefly above $1,825 an ounce, as the dollar slipped to a session low against the euro on expectations that France and Germany would offer support to heavily-indebted Greece. [GOL/]   Continued...