TSX may open lower on global economic concerns

Wed Jun 8, 2011 8:23am EDT
 
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Jun 8 (Reuters) - Toronto's main stock index might open lower as concerns over the global economy intensified and metal prices weakened.

FACTORS TO WATCH

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

* U.S. stock index futures fell, pointing to a sixth day of losses in an enduring downtrend as investors worry about the bleak economic outlook and technical market indicators look weak. [.N]

* European shares fell for a sixth day, with sentiment hit by a bearish assessment of the U.S. economy by Fed chairman Ben Bernanke. [.EU]

* Asian markets fell but Nikkei bucked the trend to close higher holding above key support near the bottom of its post-quake range as foreigners bought shares on cheap valuations.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.39 percent in early trade.

* U.S. crude oil dropped by around $1 as investors anticipated an increase in production from an OPEC meeting as a response to high prices, which have weighed on global growth and stoked inflation. [O/R]   Continued...