TSX may open lower on global growth concerns

Thu Sep 22, 2011 8:17am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Sept 22 (Reuters) - Toronto's main stock index looked set to open lower on Thursday, tracking plummeting global equities and commodity prices, after U.S. Federal Reserve said there was "significant downside risks" to the American economy.

FACTORS TO WATCH

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

* U.S. stock index futures tumbled as a grim outlook from the U.S. Federal Reserve and downbeat data on private sector business activity in Europe and China stoked fears the global economy could sink back into recession. [.N]

* European stocks sank, hitting a 26-month low with cyclical shares such as miners tumbling, as the Fed's bleak outlook and data showing Chinese and German economies losing steam sent investors rushing out of risky assets. [.EU]

* Asian stocks fell, with the Nikkei losing more than 2 percent after the Fed cited significant risks to the U.S. economy, while Softbank Corp plunged to its lowest since July 2010 on a report it would lose exclusive rights to sell the iPhone in Japan. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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 2.43 percent in early trade.

* U.S. crude futures fell $4 to $81.92 a barrel as oil prices spiralled lower on worries about the global economy.[O/R]   Continued...