Resources to hit Toronto stocks,financials may help

Tue Sep 9, 2008 9:01am EDT
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*Oil slips as OPEC expected to maintain targets

*Gold, base metals sag on U.S. dollar, demand fears

*Canada housing starts rise more than foreseen in August

*CI Financial in talks to sell Blackmount -report

TORONTO, Sept 9 (Reuters) - The Toronto Stock Exchange's main index is poised for a mixed open on Tuesday, as worries over slowing growth weighs on resource stocks and the glow of the U.S. bailout plan helps the financial sector.

Energy stocks could be a drag on the market as the price of crude slipped, despite the threat of Hurricane Ike to the U.S. Gulf energy infrastructure, on expectations that OPEC will not cut output.

Materials, home to resource shares, could weigh as gold and base metals sagged on a firmer U.S. dollar and demand fears.

Combined, energy and materials make up about half of the benchmark index's total weight.

"I think we're entering a worldwide period of economic slowness," said Douglas Davis, president at Davis-Rea.   Continued...