CANADA STOCKS-Toronto index to open higher on energy shares

Tue Jan 6, 2009 8:17am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

TORONTO Jan 6 (Reuters) - Toronto's main stock index is seen opening higher on Tuesday and adding to gains recorded in recent sessions as a rise in oil prices to a one-month high is likely to offer support to the resource-heavy index.

The S&P/TSX composite index .GSPTSE is coming off its fifth straight winning session, with the latest gain being powered by heavily weighted energy and financial shares.

Worries about the effects of Israel's attacks on Gaza were the key driver behind the rise in oil prices in the previous session and appear likely to boost the broader index again.

Here is some of the news that may affect the market:

OIL TOPS $50/BBL ON RUSSIA GAS, MIDEAST

Oil hit a one-month high above $50 a barrel on Tuesday as Israel's incursion into Gaza and a dispute between Russia and Ukraine over natural gas heightened concern about supply disruptions. [ID:nSIN367919]

GOLD SLIPS 2 PCT AS U.S. DOLLAR STRENGTHENS

Gold slipped more than 2 percent in Europe on Tuesday, extending the previous session's losses, as the dollar strengthened to a fresh three-week high against the euro, denting the metal's appeal as a currency hedge. [ID:nL1449620]

ROYAL BANK OF CANADA ANNOUNCES PREFERRED SHARE ISSUE   Continued...