CANADA STOCKS-TSX may open higher as EU leaders meet

Thu Dec 16, 2010 8:22am EST
 
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Dec 16 (Reuters) - Toronto's main stock index pointed to a slightly higher open on Thursday as European Union leaders meet to tackle a year-long debt crisis that consumed Greece and Ireland and threatens to spread to Portugal and Spain.

FACTORS TO WATCH

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

* U.S. stock index futures were slightly higher as investors awaited data on jobs and housing and corporate earnings from bellwether FedEx for signs of improvement in the economy. [.N]

* European stocks reversed early losses and turned flat around midday as shares in Southern Europe dipped following Spain's bond auction. [.EU]

* Markets in Asia were largely flat.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.06 percent in early trade.

* Oil fell to around $88 a barrel as mounting concerns over the debt-crisis in the eurozone overshadowed a large drop in crude oil stocks in the United States last week. [O/R]   Continued...