CANADA STOCKS-TSX may open higher as commodities gain

Thu Jul 22, 2010 8:55am EDT
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July 22 (Reuters) - Toronto's main stock index could open higher on Thursday, rebounding from previous session's sharp losses, as commodity prices gained.

Canadian equity futures pointed to a higher open. <0#SXF:> The Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was up 0.37 percent in early trade.

Wall Street is also poised for a higher open ahead of a flurry of company results. U.S. stocks sold off on Wednesday after Federal Reserve chairman Ben Bernanke said the U.S. economy was facing unusual uncertainty. [.N]

European shares rose, reversing earlier falls as banks gained ahead of the sector's stress tests results on Friday.

Asian shares were mixed with Shanghai Composite Index SSEC gaining 1.07 percent as rising steel prices boosted metal shares while property companies rose on reports that a property tax would not be levied before 2012.

Japan's Nikkei inched down for a fifth straight day of losses and its lowest close in three weeks, hurt by a stronger yen after Bernanke's remarks.

Here is some news that could affect stock prices:


Oil reversed early losses on Thursday to head back toward $77 a barrel as signs of a stronger recovery in Germany soothed investor concerns, but rising U.S. inventories kept prices in check. [O/R]   Continued...