CANADA STOCKS-TSX may open lower on euro zone worries, lower oil

Tue May 11, 2010 8:43am EDT
 
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May 11 (Reuters) - Toronto's main stock index could open lower on Tuesday, snapping the previous session's rally, on concerns that the euro zone's mammoth $1 trillion rescue package was not a long-term solution to the region's sovereign debt problems.

European shares fell, with banks among the biggest losers. In a sobering note, the IMF said even though Greece's public debt was sustainable over the medium term, the nation faced plenty of risks.

Markets in Asia were also down after data showed Chinese inflation inched up to an 18-month high in April, raising concerns about potential monetary tightening. [ID:nLDE64A0I9]

Wall Street is also set for a lower start with the stock futures down more than a percent. [.N]

Energy stocks will be in the spotlight as U.S. lawmakers grill top executives on the drilling rig explosion and oil spill that threatens an environmental catastrophe in the Gulf of Mexico.

Here is some news that could affect stock prices:

OIL DROPS

Oil fell below $76 as euphoria over the euro zone's $1 trillion rescue package faded, leaving doubts over the longer-term outlook for Europe's economies and their future demand for fuel. [O/R]

METALS FALL   Continued...