CORRECTED - CANADA STOCKS-TSX poised to rise on commodity strength

Thu May 7, 2009 9:30am EDT
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(Corrects paragraph 4 to show it was highest close since Oct 20, not Nov 4)

TORONTO May 7 (Reuters) - Strength in commodity prices are likely to boost Toronto's main stock index on Thursday at the open, while market players also consider earnings reports from some of Canada's biggest companies.

Meanwhile, world stocks rose more than 1 percent to their highest levels of 2009 as investors bet on a stabilization of the ailing world banking system, battered emerging markets and the global economy at large. [MKTS/GLOB]

The results of "stress tests" of major U.S. banks are due at 5 p.m. (2100 GMT). Leaked reports show that about half will not need new capital. [ID:nL776802]

Toronto's main stock index shot through the 10,000-mark to its highest close in six months on Wednesday. The S&P/TSX composite index .GSPTSE finished up 262.71 points, or 2.7 percent, at 10,143.43, its highest close since Oct 20.

Here are some of the factors that may affect the market:


Oil rose towards $58 a barrel, hitting a fresh 2009 high, as a surge in global stock markets raised expectations of economic improvement and a subsequent increase in demand for oil products. [ID:nSP407747]

GOLD   Continued...