CANADA STOCKS-TSX may open lower on resources, European banks

Tue Sep 7, 2010 9:00am EDT
 
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TORONTO, Sept 7 (Reuters) - Toronto's main stock index could open lower on Tuesday, halting eight sessions of gains, as commodity prices slipped on a stronger U.S. dollar and renewed concerns about Europe's banking sector.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a lower open.

* U.S. stock index futures fell on Tuesday after reports on the European banking system rekindled concerns about the financial health of the region. [.N]

* European markets were down with banking and mining stocks among the losers. [.EU]

* Stocks in Asia were mixed with the Nikkei down, dented by profit-taking after four days of hefty gains and as the yen's strength showed little sign of abating.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.61 percent in early trade.

* Oil fell by over $1 to around $73 a barrel on Tuesday as the dollar strengthened and Tropical Storm Hermine showed no signs of disruption to crude or refining output as it came ashore near the Mexico-Texas border. [O/R]   Continued...