CANADA STOCKS-TSX set to open stronger as commodities rise

Tue Jul 6, 2010 8:52am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

July 6 (Reuters) - Toronto's main stock index could open higher on Tuesday, helped by commodity gains, including a rebound in oil prices after several days of declines and a strong performance by metals.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE hit its lowest intraday level since Feb. 5 on Monday and ended the session at 11,092.50, its weakest close this year.

But Canadian equity futures pointed to a stronger start on Tuesday. <0#SXF:>

Wall Street is also poised for a higher open ahead of ISM non-manufacturing report and employment index data, which should offer further clues to the state of the U.S. economy. [.N]

European shares rallied, which strategists said was due to stocks becoming cheap after a period of weakness.

Asian markets also rose with the Shanghai Composite Index ending 1.9 percent higher, its biggest percentage gain in two weeks.

Here is some news that could affect stock prices:


Oil prices changed direction on Tuesday after several days of declines and rose to near $73 a barrel as rallying equities boosted expectations for the pace of global fuel demand growth. [O/R]   Continued...