CANADA STOCKS-TSX may open higher as oil, gold rise

Tue Aug 3, 2010 9:04am EDT
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Aug 3 (Reuters) - Toronto's resource-heavy stock index could open higher on Tuesday as oil and gold prices rose.

Canadian equity futures pointed to a higher open. <0#SXF:>, even as the Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was down 0.06 percent in early trade.

Research In Motion RIM.TO RIMM.O is likely to be in the spotlight as it is expected to unveil its answer to Apple Inc's (AAPL.O: Quote) iPhone.

Kinross Gold (K.TO: Quote) is also seen to keep the mining stocks in focus after the gold miner said it will buy 91 percent of Red Back Mining RBI.TO for around $7 billion.

Wall Street is set to for a lower start, but bulls could be tempted into the market as the S&P pierced two key technical levels. [.N]

European shares edged lower as some banks gave back a little of the sharp gains from the previous session, although losses were capped by companies such as BMW rising after strong results.

Asian markets were up, while China's key stock index fell, weighed down by concerns over more capital raising.

Here is some news that could affect stock prices:

OIL HITS 3-MONTH HIGH   Continued...