CANADA STOCKS-TSX could open lower on weak resources

Mon Jun 8, 2009 8:12am EDT
 
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TORONTO, June 8 (Reuters) - Canada's main stock market index could open lower on Monday as weaker oil and gold prices and a firmer U.S. dollar weigh on the resource-heavy market.

The market could also follow its European counterparts down as weak commodity prices prompted investors to take profit on surging mining shares.

Toronto's main stock index shrugged off weak Canadian jobs data and closed higher on Friday, posting its third straight week of gains, as energy and financial issues rose. The S&P/TSX composite index .GSPTSE ended up 0.9 percent at 10,569.29. For the week the TSX rose 1.9 percent.

Here is some news that could affect the market:

OIL FALLS TOWARD $67 ON STRONGER DOLLAR

Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.[nSP162458]

GOLD EXTENDS LOSSES AS DOLLAR FIRMS

Gold fell in Europe on Monday, extending the previous session's 2 percent losses, as the firmer dollar reduced the precious metal's appeal as an alternative asset and oil prices declined. [nL8455441]

COPPER DOWN ON DOLLAR BUT ALUMINUM BUCKS TREND   Continued...