November 24, 2011 / 1:38 PM / 7 years ago

TSX may open higher as commodities rise

Nov 24 (Reuters) - Canada’s main stock index looked set to eke out gains at open on Thursday, mirroring a modest rebound in commodity prices, after plunging almost 2 percent in the previous session.

Any gains might prove fragile after Germany’s poorly received bond sale on Wednesday fueled fears the euro zone debt crisis was beginning to affect even the currency bloc’s safest haven.


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

* U.S. markets are closed for Thanksgiving holiday.

* European shares were higher on Thursday after five days of losses, helped by a surprise pick-up in German business sentiment, though strategists said worries about the euro zone debt crisis would cap any upside. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada — a preview of market moving news — Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* Brent crude futures rose $1 to $108.02 a barrel and U.S. crude futures rose $1 to $97.17 a barrel as tight supply, tensions in the Middle East and a weaker dollar all helped support oil prices. [O/R]

* Gold rose to around $1,700 an ounce after its decline to one-month lows this week triggered some bargain hunting, helped by the euro’s slight gain against the dollar after the common currency hit seven-week lows the previous day. [GOL/]

* Copper rose, lifting off a one-month low hit earlier in the session, but prices are still on track for a fourth straight week of losses on grim views of the global economy and the impact on demand for industrial metals. [MET/L]


* Goldcorp Inc (G.TO): The gold miner said on Wednesday it has entered into a $2.0 billion credit facility with a syndicate of 15 lenders which will be used to fund growth opportunities and for general corporate purposes. [ID:nN1E7AM1T3]

* Mosaid Technologies Inc MSD.TO: The company posted a second-quarter loss and suspended its dividend payment for the quarter. Mosaid said it incurred one-time expenses of C$4.2 million in the quarter related to a special committee for the sale review.[ID:nL4E7MN2RB]

* Sherritt International Corp.(S.TO): The company named David Pathe its president and chief executive, replacing incumbent CEO Ian Delaney, who is retiring from the company.[ID:nN1E7AN093] ($1= $1.04 Canadian) (Reporting By Chandra Ramarathnam)

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