CANADA STOCKS-TSX could open lower on weak oil; Alcoa eyed

Tue Apr 7, 2009 8:00am EDT
 
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TORONTO, April 7 (Reuters) - Toronto's main stock market index could open lower on Tuesday, with energy issues leading the way as the price for crude oil weakens.

But investors are expected to remain cautious ahead of results from aluminum producer Alcoa Inc (AA.N: Quote) expected later in the day which traditionally signals the start of the quarterly reporting period.

Toronto's main stock index closed lower on Monday as rebounds in the heavyweight financial and energy groups offset falling gold miners. [ID:nN06386461]

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

OIL SLIPS TOWARD $50; EYES EQUITIES, INVENTORIES

Oil fell toward $50 a barrel on Tuesday, paring early gains after European equities turned lower, as investors continued to track share movements to try and gauge the strength of the global economy. [nSP219544]

GOLD FIRMS FROM 2-1/2 MTH LOW, SENTIMENT SHAKY

Gold prices firmed on Tuesday as investors covered short positions, helping the market to rebound from 2-1/2 month lows, but steadier stock markets were keeping a lid on gains. [nL7442493]

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