CANADA STOCKS-TSX may open higher on commodities

Wed Dec 9, 2009 8:05am EST
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TORONTO Dec 9 (Reuters) - Toronto's main stock market index could halt a four-session losing streak on Wednesday as strong gold and energy prices looked ready to underpin the resource-heavy index.

A lower U.S. dollar .DXY could also help prop up the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE as investors shift focus to resource plays.

The Toronto index slid to its lowest level in more than a week Tuesday on a drop in commodity prices and shares of Bank of Nova Scotia (BNS.TO: Quote) added pressure after it missed profit expectations. For details, see[ID:nN08213633]

Below is some news that could affect the market:


Gold rose nearly 1 percent in Europe on Wednesday, recovering from three-week lows in the previous session, as the dollar weakened against the euro on concerns that selling in the single currency had been overdone.[ID:nGEE5B80UE]


U.S. crude oil CLc1 rose more than 1 percent a barrel Wednesday after several days of declines, as industry data showed a big drop in U.S. crude stocks and on a weaker U.S. dollar. [ID:nSP59369]

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