CANADA STOCKS-TSX could open lower on global pullback

Thu Jan 7, 2010 8:25am EST
 
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TORONTO, Jan 7 (Reuters) - Toronto's main stock index could open lower on Thursday, hurt by a decline in oil and gold prices, which had boosted shares of producers in recent sessions.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE may also follow sagging world stock indices as investors stepped back to await key U.S. economic data at the end of the week. U.S. stock futures also pointed to a lower start ahead of an expected rise in initial jobless claims.

Canadian stocks ended higher for a fifth session in a row on Wednesday, backed by a three-week high in the price of bullion that lifted gold miners such as Barrick Gold (ABX.TO: Quote) and Goldcorp (G.TO: Quote).

Here is some news that could affect the market:

GOLD SOFT

Gold prices eased in Europe on Thursday as the dollar rose against the euro, with investors taking profits in commodities and higher-yielding currencies after their recent gains.

Spot gold XAU= was at $1,130.65 an ounce at 1035 GMT, against $1,137.90 late on Wednesday. [GOL/]

OIL DIPS

Oil slipped below $83 a barrel on Thursday, pulling back from a 15-month high a day earlier, as signs of tighter monetary policy in China sparked concerns about demand in the engine room of commodity consumption growth. [O/R]   Continued...