CANADA STOCKS-TSX may open flat as weak oil offsets firm metals

Wed Aug 5, 2009 8:40am EDT
 
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TORONTO, August 5 (Reuters) - Toronto's main stock market index could open little changed on Wednesday, as sliding oil prices weigh on the resource-heavy index while higher metal prices temper any decline.

A rally in global equities paused overnight, while the U.S. dollar hovered near its 2009 lows with two major central banks holding policy meetings. [ID:nL5145126]

U.S. stock futures were little changed before key reports on the labor market, factory orders and the vast services sector. [ID:nN05209746]

On Tuesday the S&P/TSX composite index .GSPTSE closed up 230.95 points, or 2.14 percent, at 11,018.10.

Here is some news that could affect the market:

BARRICK GOLD ABX.TO

Barrick Gold Corp, the world's largest gold miner, said on Wednesday it is eyeing global M&A opportunities and will consider assets that include copper. [ID:nSHA349047]

COALCORP MINING INC CCJ.TO

Canada's Coalcorp Mining Inc started a strategic alternatives review, including a possible sale of its La Francia mine, saying the current market value of the company did not reflect the value of its assets. [ID:nBNG524154]   Continued...