MN: TSX to opens strong German data lifts commodities
(Reuters) - Toronto's resource-heavy main stock index was set to open higher on Tuesday, as upbeat German data and a weak U.S. dollar lifted commodity prices.
The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.83 percent in early trade.
Threats to supply in Iran and Kazakhstan and stronger economic data lifted oil by nearly $2.
Gold prices rose in Europe as the euro strengthened versus the dollar, but gains were capped by concerns that policymakers' efforts to address the euro zone debt crisis are inadequate and could keep European assets under pressure.
Copper rose after better-than-expected German business sentiment eased some concerns about the health of Europe's largest economy, with a weak dollar helping cement gains for metals.
CANADIAN STOCKS TO WATCH
Royal Bank of Canada (RY.TO): The U.S. Federal Reserve Board said on Monday it approved PNC Financial Services Group's application to buy the U.S. retail and credit card operations of RBC, one of the year's largest bank deals.
TransCanada Corp. (TRP.TO): The company said it agreed to buy 86 megawatt of solar power projects in Ontario from a unit of panel maker Canadian Solar Inc (CSIQ) for $470 million.
Athabasca Oil Sands (ATH.TO): The company set its capital budget for 2012 at C$1.02 billion, its highest ever, as the company looks to bring its projects to the production stage.
Bonterra Energy Corp. (BNE.TO): The company said it expects full-year production to rise by about 10 percent as it ramps up spending to boost its light oil output.
