CANADA STOCKS- TSX may open higher as oil, commodities rise

Dec 22 (BestGrowthStock) – Toronto’s main stock index could open
slightly higher on Wednesday, supported by higher oil, gold and
copper prices.

FACTORS TO WATCH

* Canadian equity futures (0#SXF:: ) pointed to a higher
open.

* U.S. stock index futures were little changed after fours
days of gains drove the S&P 500 to new highs near levels
reached just before Lehman Brothers went bankrupt two years
ago. [.N]

* European shares edged up. ARM Holdings (ARM.L: ) led gains
in technology shares on reports Microsoft (MSFT.O: ) plans to
unveil software that runs on its processors.

* Asian stocks were mixed with Japan’s Nikkei dipping as
downbeat comments by the prime minister on the economy prompted
investors to adjust positions around new levels.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, fell 0.01 percent in early trade.

* Oil prices rose to their highest over the past two years
supported by data showing a drop in U.S. oil and gasoline
inventories, cold weather and a weaker dollar. [O/R]

* Gold firmed in Europe as the dollar retreated and as
warnings from credit rating agencies on some euro zone
economies boosted haven demand for the metal. [GOL/]

* Copper steadied near record highs, underpinned by with a
weaker dollar and concerns about supply tightness underpinning
prices of the industrial metal. [MET/L]

CANADIAN STOCKS TO WATCH

* Enbridge Inc. (ENB.TO: ): The company said on Monday it is
rationing capacity again on its huge oil pipeline system,
extending restrictions that have backed up supplies in Western
Canada and pressured prices for the country’s crude.
[ID:nN21256815]

* Sears Canada Inc. (SCC.TO: ): The retailer on Tuesday named
Sharon Driscoll as its new CFO to replace Allen Ravas, who is
returning to the company to work at a California
subsidiary.[ID:nN21278132]

* Breakwater Resources (BWR.TO: ): The copper and zinc
producer on Monday said it finalized a new contract for workers
at the Mochito mine in Honduras, almost three months after the
previous contract expired.[ID:nSGE6BK0BB]

($1= $1.01 Canadian)

(Reporting by Kishan Nair and Bangalore Newsroom)

CANADA STOCKS- TSX may open higher as oil, commodities rise