CANADA STOCKS-Resources may prop up TSX, BCE in focus

Mon Mar 8, 2010 8:14am EST
 
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TORONTO, March 8 (Reuters) - Canada's main stock market index may open higher on Monday as firm oil and metal prices help prop up the resource-laden market.

Canadian mining companies could also attract some attention as hundreds of juniors will vie to attract the interest of investors and large miners at the PDAC Convention, one of the sector's largest annual gatherings that opened in Toronto on Sunday.[ID:nN04173616]

Canadian telecommunications shares could see activity on Monday following a positive report on BCE Inc (BCE.TO: Quote) in an influential U.S. business publication.

Toronto's main stock index jumped to its highest in more than seven weeks on Friday after data showed the U.S. economy shed fewer jobs than expected last month, offering more evidence of economic recovery.[ID:nN05251123]

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

GOLD FIRM

Gold prices firmed in Europe on Monday as the dollar retreated against the euro, with risk appetite sharpened by last week's firmer-than-expected U.S. jobs data and concerns over Greece's fiscal health retreating.[ID:nLDE6270WQ]

OIL HIGHER

Oil rose towards $82 a barrel on Monday, but pared an earlier gain to an eight-week high, supported by a weaker dollar and signs of economic recovery in the United States, the top oil consumer.[ID:nTOE62705D]   Continued...