June 30, 2011 / 12:26 PM / 6 years ago

CANADA STOCKS-TSX may open higher; Greek vote helps commodities

June 30 (Reuters) - Toronto’s resource-heavy main stock index looked set to open higher on Thursday after Greece took a step closer to avoiding a default in the short term, helping to send commodity prices higher.

The Greek parliament was set to approve detailed austerity and privatization bills on Thursday to secure emergency funds and avert imminent bankruptcy, though longer-term dangers still lurk. [ID:nL6E7HU0DD]

FACTORS TO WATCH

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

* U.S. stock index futures pointed to a fourth day of gains for Wall Street as optimism that Greece’s debt problems are getting resolved helped lift equities from their recent lows. [.N]

* European shares reversed slim gains and briefly turned negative, with auto stocks giving up some of their strong gains of recent days. [.EU]

* Asian stocks were mostly up with Hong Kong and China finishing largely flat with declining volumes as Chinese banks holding hefty local government debt was seen as unattractive in the near term even as market players remain optimistic about China’s economy.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.11 percent in early trade.

* Oil prices held near $112 a barrel as worries about inflation and uncertainty about the International Energy Agency’s emergency stock release plan balanced against a weaker dollar. [O/R]

* Gold buckled under the weight of growing investor appetite for risk after Greece looked increasingly likely to push through austerity measures, which offset the potentially bullish impact of a weaker dollar. [GOL/]

* LME copper rose after its biggest one-day rally in more than two weeks a day earlier after the Greek parliament voted to accept austerity measures. [MET/L]

CANADIAN STOCKS TO WATCH

* Royal Bank of Canada (RY.TO): Renasant Corp said its banking subsidiary will buy an asset management department from the bank’s U.S. unit, nearly doubling the amount of assets it manages to $1.5 billion. [ID:nL3E7HT3GP]

* Valeant Pharmaceuticals International (VRX.TO): The company acquired rights to market skin medicine Elidel and Xerese in the U.S., Canada and Mexico from Sweden’s Meda AB. [ID:nL3E7HU0TN]

* Husky Energy Inc. (HSE.TO): The oil producer and refiner is proposing a secondary listing in Hong Kong with a global share offering, according to the Hong Kong stock regulator. [ID:nL3E7HU1Q4]

* Medicago Inc. MDG.TO: The biotechnology company said a mid-stage trial showed its experimental seasonal influenza vaccine boosted immunity and was found to be safe and well tolerated. [ID:nL3E7HU1UR]

* Imax Corp. IMX.TO: U.S and Canadian securities regulators have ended probes of the big screen movie company and will be taking no further action, the company said in a regulatory filing on Wednesday. [ID:nN1E75S21H]

* SNC-Lavalin Group (SNC.TO): The Canadian government is selling the nuclear reactor division of AECL to the company ending the flood of money it has pumped into the loss-making unit over the past six decades. [ID:nN1E75S1Z4]

$1= $0.97 Canadian Reporting by Anil Kumar; Editing by Jeffrey Hodgson

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