CANADA STOCKS-TSX could open higher on rising oil, gold prices

Mon Jan 11, 2010 8:33am EST
 
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TORONTO Jan 11 (Reuters) - Toronto's main stock index looked set for a higher open on Monday as the resource-laden market gets a boost from rising oil and gold prices, while the U.S. dollar weakened.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE may also follow U.S. stock futures and world equities, which hit a 15-month peak for a sixth straight session, as healthy Chinese trade data boosted optimism about the global economy recovery. [.N]

Canadian stocks closed higher on Friday as investors looked past disappointing employment reports and focused instead on rebounding resource prices.

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

OIL HITS 15-MONTH RECORD

Oil prices rose 1 percent on Monday, hitting a fresh 15-month high near $84 a barrel, supported by data showing China's crude oil imports surged by nearly 25 percent in December and as the dollar weakened. [O/R]

GOLD AT 5-WEEK HIGH

Gold prices rose 1.7 percent in Europe on Monday to a five-week high of $1,157.70, benefiting from weakness in the dollar as traders bet on U.S. interest rates staying low in the immediate future. [GOL/]

TALISMAN RAISES CAPEX   Continued...