CANADA STOCKS-Toronto index may rise, resources may offset

Mon Nov 3, 2008 9:02am EST
 
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TORONTO Nov 3 (Reuters) - The Toronto Stock Exchange's main index .GSPTSE is set to rise as investors look to start a new month on better footing after October's dismal performance.

However, the resource-rich Toronto index may come under pressure with commodity prices on the decline.

Toronto's index logged its biggest monthly drop in nearly a decade in October.

Appetite seemed to be returning as global stocks kicked off November with gains against a background of easier monetary policy designed to pull economies away from severe recession. [MKTS/GLOB]

Here is some of the news that could affect the market.

OIL NEAR $67, METALS FALL

Oil drifted lower towards $67 a barrel as traders shifted their focus back to slowing global energy demand linked to the financial crisis, while metals fell as market recession woes persisted. [ID:nL3721136]

TAHERA UPDATE ON PLAN SPONSORSHIP AGREEMENT

Tahera Diamond Corp TAH.TO, under creditor protection, said its plan sponsorship agreement has been terminated with a privately held company because conditions had not been satisfied. Tahera said it is reassessing its options. [ID:nWNAB6540]   Continued...