TSX may open lower, weighed down by metal prices

Thu Aug 4, 2011 8:19am EDT
 
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Aug 4 (Reuters) - Toronto's main stock index looked set to open lower on Thursday with miners expected to decline along with copper and other metal prices.

FACTORS TO WATCH

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

* The Canadian dollar weakened a more than three-week low against the greenback after Japan intervened to stem the rise in the yen, boosting the U.S. dollar across the board. [CAD/]

* Wall Street equity futures fell, indicating the market may resume its downturn after snapping a seven-day losing streak ahead of a report on the labor market that will give clues on economic health. [.N]

* European shares fell further, hitting a 11-month low. Mining issues fell as the price of copper and other metals dropped on worries about the outlook for demand following recent weak economic data. [.EU]

* Asian stocks were mixed with the Nikkei coming off five-week lows after Japan intervened in currency markets to stem the yen's climb and the central bank eased monetary policy. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.50 percent in early trade.   Continued...