CANADA STOCKS-TSX may open higher after Portugal bond auction

Wed Jan 12, 2011 8:28am EST
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Jan 12 (Reuters) - Canadian stock futures pointed to a higher open on Wednesday after a healthy bond sale in Portugal eased worries about the financial stability of the euro zone.


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

* The Canadian dollar rallied to a 2 1/2-year high versus its U.S. counterpart, extending gains as investors continued to flock to the Canadian currency on the view that its economy will outperform others. [CAD/]

* U.S. stock index futures rose sharply after a healthy bond sale in Portugal and signs of strength in the U.S. banking sector. [.N]

* European stocks rallied, lifted by hopes euro zone finance ministers will beef up the region's rescue fund while strong appetite in Portugal's bond issue also provided respite. [.EU]

* Many Asian markets were higher, with Nikkei ending flat, backing away from an eight-month high hit early as traders locked in profits. Sentiment remains strong as a softer yen spurred foreign investors to buy up financial and property shares.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.23 percent in early trade.   Continued...