CANADA STOCKS-TSX may open lower on Greece fears

Tue May 4, 2010 8:48am EDT
 
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May 4 (Reuters) - Toronto's main stock index could open lower on Tuesday as investors fret over whether Greece can make deep spending cuts as part of a deal to end its fiscal crisis, while also watching key company results from both sides of the border.

Wall Street is also set for a lower open. Investors will be closely watching the progress of a Wall Street reform bill as voting begins in the Senate. [.N]

European stocks fell sharply as mounting doubts over Greece's bailout and fear of contagion to other euro zone countries rattled investors.

Asian markets outside Japan were lower with China's key stock index shedding 1.23 percent on concerns over further tightening of monetary policy.

Here is some news that could affect stock prices:

OIL DROPS

U.S. crude oil fell more than $1 to around $85 a barrel on Tuesday, retreating from 19-month highs, depressed by an expected rise in U.S. crude and fuel stocks and a stronger dollar. [O/R]

COPPER FALLS

Copper tumbled to two-month lows on Tuesday as the dollar rose against the euro and the market fretted about tightening in China, the world's largest consumer of industrial metals. [MET/L]   Continued...