CANADA STOCKS - Factors to watch on Oct 7

Tue Oct 7, 2008 8:36am EDT
 
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TORONTO Oct 7 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may get a boost on Tuesday after its big tumble on Monday as recession worries pummeled markets, while oil rebounded above $90 a barrel and gold was higher.

Here is some of the news that could affect the market.

ELECTION RACE

Three polls show a tighter Canadian election race than earlier in the campaign and pointed to the ruling Conservatives winning a minority government rather than the majority that sometimes had seemed to be in the cards. [ID:N06387154]

CANADA ECONOMY

Canada's government says the economy can still avoid a recession even as the global financial crisis battered the stock market and economists warned of little growth until late next year. [ID:N06393924]

RATE CUTS?

Australia responds to the growing credit crisis by cutting its interest rates by 100 basis points to 6.0 percent, putting pressure on Western central banks to cut borrowing costs. [ID:nPEK327881] For more link to stories, see: [nCRISIS]

RBC CUTS BANKS   Continued...