CANADA STOCKS-TSX may open higher on higher commodities

Tue Feb 1, 2011 8:38am EST
 
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Feb 1 (Reuters) - Canadian stock futures pointed to a higher open on Tuesday as commodity prices rose and investors shifted their focus to upcoming U.S. economic data and corporate results.

FACTORS TO WATCH

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

* U.S. stock index futures rose as investors turned their attention from geopolitical tremors in the Middle East to data they hope will provide insight into the state of the U.S. economic recovery. [.N]

* European shares rose on Tuesday as confidence about the economy gathered pace following upbeat euro zone manufacturing data while strong earnings from ARM ARM.L and Infineon IFXGn.DE lifted technology firms. [.EU]

* Markets in Asia mostly rose, with an exception to India's main stock index, which fell 1.7 percent to its lowest close since August. That extended the index's worst monthly slide in more than two years, as inflation worries and hardening interest rates unsettled investors.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.15 percent in early trade.

* Oil hovered above $100 as the market assessed the risk of Egypt's social unrest spreading to neighboring oil producers, but stayed below yesterday's high of $101 on lower factory growth in China. [O/R]   Continued...