CANADA STOCKS-TSX may open higher as commodity prices get boost

Thu Apr 9, 2009 8:38am EDT
 
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TORONTO, April 9 (Reuters) - Toronto's main stock index may open higher on Thursday as its heavy weighting in resource companies could benefit from firmer prices for oil and gold.

Even weak domestic data, which showed the economy shed 61,300 jobs in March, may be pushed aside as it was not nearly as weak as some market players had anticipated.

Action on the index could come to a standstill during the latter half of Thursday's session as the TSX will be closed on Friday for the Easter holidays.

The S&P/TSX composite index .GSPTSE rose 144.53 points, or 1.64 percent, to close at 8,969.28 on Wednesday, driven largely by higher oil prices.

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

COGECO CABLE POSTS QUARTERLY NET LOSS

Cogeco Cable Inc CCA.TO on Thursday posted a fiscal second-quarter loss as it recorded a noncash impairment loss related to its investment in Cabovisao. [ID:N09258809]

OIL RISES TOWARDS $51 AFTER EQUITIES GAIN

Oil CLc1 rose towards $51 on Thursday as rallies on stock markets revived thoughts of economic recovery and subsequent increased demand for commodities. [ID:nSP226434]   Continued...