CANADA STOCKS-TSX may open higher after Tuesday's 1.6 pct drop

Wed Jun 2, 2010 8:51am EDT
 
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June 2 (Reuters) - Toronto's main stock index could open higher on Wednesday, gaining ground after Tuesday's 1.6 percent drop, even as prices of many commodities slipped on concerns about the outlook for the global economic recovery.

Wall Street is also poised for a slightly higher open, rebounding from previous session's steep losses. [.N]

European shares fell, with BP BP.L leading the energy sector down, and with banks weaker on worries about the euro zone crisis.

Asian markets were also down with the Nikkei shedding more than a percent after Japan's Prime Minister said he would resign, reflecting the view that the front runner to replace him, Finance Minister Naoto Kan, is seen as preferring a weaker yen.

Here is some news that could affect stock prices:

BOMBARDIER PROFIT DIPS

Bombardier Inc BBDb.TO, the world's No. 3 civil aircraft maker, on Wednesday reported a 3 percent drop in quarterly profit, but said business aircraft cancellations have substantially decreased. [ID:nSGE6510EC]

OIL SLIDES

Oil prices slid below $72 a barrel on Wednesday and looked set to fall for a third straight session after a raft of negative data stoked concerns about the impact of the European debt crisis on the still fragile global fuel demand recovery. [O/R]   Continued...