CANADA STOCKS-TSX may open higher on oil rally, U.S. data eyed

Mon Apr 5, 2010 9:01am EDT
 
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TORONTO, April 5 (Reuters) - Toronto's main stock index may open higher on Monday on rallying commodity prices and data that showed U.S. employers created jobs last month at the fastest pace in three years, boosting hopes of a sustained economic recovery.

The index could also follow Asian markets and U.S. futures, ahead of pending homes sales and the ISM non-manufacturing report, although trading could be light as investors extend the long weekend for Easter celebrations.

Canada's main stock index shot higher on Thursday as upbeat international manufacturing numbers prompted fresh fund flows into commodities at the start of the quarter, boosting the heavily- weighted resource shares.

Here is some news that could affect stock prices:

JOBS DATA BOOSTS RECOVERY HOPES

The number of U.S. workers filing new claims for jobless aid fell last week and factory activity in March hit its highest level in more than 5-1/2 years, strengthening hopes for continued economic growth without government support. [ID:nN01114317]

OIL HITS 18-MONTH HIGH

U.S. crude futures hit an 18-month high on Monday, climbing towards $86 per barrel on expectations of faster-than-expected economic recovery and increasing demand for fuel. [O/R]

GOLD STEADIES   Continued...