CANADA STOCKS-TSX may open lower as commodity prices fall

Tue Jun 1, 2010 8:55am EDT
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June 1 (Reuters) - Toronto's main stock index could open weaker on Tuesday after commodity prices and global equity markets fell on concerns about euro zone and Chinese growth.

Investors will also keep a close eye on the Bank of Canada's interest rate announcement.

Canada's central bank is widely expected to raise its key interest rate by 25 basis points to 0.50 percent at 9 a.m. (1300 GMT), which would make it the first Group of Seven country to raise rates since the global financial crisis. [ID:nN25118365]

World stocks fell on fears about the outlook for the global economic recovery. [MKTS/GLOB]

Wall Street is also set for a lower open after data revealed manufacturing growth slowed across the globe in May amid growing uncertainty over what damage Europe's debt crisis may do to the fragile economic recovery. [.N]

European shares fell and the euro hit a four-year low against the dollar. Asian markets were also down.

Here is some news that could affect stock prices:


Bank of Nova Scotia BNS.TO said on Tuesday quarterly profit rose 26 percent as domestic banking had a record quarter and loan losses fell again, exceeding expectations for more modest profit growth. [ID:nN28202192]   Continued...