CANADA STOCKS-TSX may rise on strong commodities

Mon Jun 1, 2009 8:32am EDT
 
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TORONTO, June 1 (Reuters) - Canada's main stock market index could open higher on Monday as rising oil and metal prices underpin the resource-heavy market.

The index, which climbed more than 11 percent last month, is also expected to feed off the positive attitude from most of the overseas markets.

The markets will also focus on General Motors GM.N after the ailing car maker filed bankruptcy protection in federal court in Manhattan. [N01398575]

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 0.2 percent, at 10,370.07 on Friday.

Here are some of the stories that may affect the market:

OIL JUMPS TO $68 ON EQUITIES RALLY

Oil rose more than 2 percent to a seven-month high on Monday, extending its biggest monthly gain in a decade due to rallying stock markets and sustained expectations for a global economic recovery. [SP429646]

GOLD CLIMBS ABOVE $985/OZ AS DOLLAR SLIDES

Gold rose to three-month highs above $985 an ounce in Europe on Monday as investors bought bullion as a hedge against dollar weakness and the prospect of future inflation, while expectations of economic recovery grew. [nL1459956]   Continued...