CANADA STOCKS-TSX may open higher on commodities

Thu Jun 4, 2009 7:58am EDT
 
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TORONTO, June 4 (Reuters) - Toronto's main stock index could open higher on Thursday, after a sharp drop in the previous session, as oil and metals prices look set to bolster the resource-laden market.

Canadian investors will also take time to digest the latest interest rate decision from the Bank of Canada and its accompanying comments. The central bank is widely expected to leave the overnight rate unchanged at 0.25 percent.

World equities traded close to 2009 highs on Thursday, while U.S. stock index futures signaled a rebound. [MKTS/GLOB] [ID:nL4611253]

On Wednesday, the S&P/TSX composite index .GSPTSE closed down 2.8 percent, at 10,290.12. Nine of its 10 sectors ended lower, with the consumer discretionary group the only one to eke out a gain.

Here is some news that could affect the market:

OIL RISES ABOVE $67, GOLDMAN UPS FORECASTS

Oil rose above $67 a barrel on Thursday after a 3.5 percent decline the previous day, boosted by increased oil price forecasts from U.S. investment bank Goldman Sachs GS.N. [nSIN371584]

GOLD EDGES OFF HIGHS, EYES ECB RATES DECISION

Gold edged off highs in Europe on Thursday as the dollar recovered some earlier losses against the euro, with traders taking to the sidelines ahead of an interest rate decision from the European Central Bank later in the day. [nL4240402]   Continued...