CANADA STOCKS-TSX may open lower as oil and metals fall

Mon Jul 6, 2009 8:42am EDT
 
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TORONTO, July 6 (Reuters) - Toronto's main stock market index could open lower on Monday, as weaker commodity prices weigh on the resource-heavy market.

Second thoughts about the U.S. economy's ability to recover hit global stocks on Monday and gave the U.S. dollar a modest boost. [ID:nL697297]

U.S. stock index futures pointed to a lower open on Monday with a slide in oil prices set to weigh on energy shares and as investors remained anxious about the potential strength of the economic recovery.[ID:nN06546290]

On Friday the S&P/TSX composite index .GSPTSE closed 37.19 points, or 0.36 percent, higher at 10,283.10. For the week, it fell 1 percent.

Here is some news that could affect the market:

MAGNA MGa.TO

General Motors Europe President Carl-Peter Forster expects to sell German unit Opel to Canadian auto parts supplier Magna soon, he told a German newspaper. [ID:nL557832]

NORTEL NETWORKS NRTLQ.PK

MatlinPatterson Global Advisors, a private equity firm specialising in distressed investments, is considering leading a rescue bid for the whole of Nortel Networks, The Financial Times reported on Sunday. [ID:nN05223279]   Continued...