CANADA STOCKS-TSX may open higher on stronger commodities

Thu Aug 5, 2010 9:18am EDT
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Aug 5 (Reuters) - Toronto's resource heavy index could open higher on Thursday as stronger-than-expected results from mining giant Rio Tinto RIO.AX stirred optimism about the sector.

Canadian equity futures pointed to a higher open. <0#SXF:>, even as the Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was down 0.11 percent in early trade.

Wall Street is set for a slightly higher start as investors took a cautious track ahead of the morning's labor data, a precursor to Friday's monthly jobs report. [.N]

European stocks hit a three-month high, but gains were capped by a bit of disappointment on the earnings front.

The European Central Bank and the Bank of England left interest rate unchanged.

Asian markets were mixed with the Nikkei gaining 1.7 percent, while the Chinese shares faltered as property stocks weighed after Beijing ordered new bank stress tests and tightened mortgage rules.

Here is some news that could affect stock prices:


Oil prices fell for a second day on Thursday towards $82 a barrel after a hike in product inventories in top consumer the United States stoked doubts about the pace of fuel demand recovery. [O/R]   Continued...