CANADA STOCKS-TSX may rise on higher oil prices

Thu Jun 11, 2009 8:46am EDT
 
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TORONTO, June 11 (Reuters) - Toronto's main stock market index could open higher for a second straight session on Thursday as rising energy prop up the resource-heavy index.

The index could also see the benefits of a falling U.S. dollar as the greenback edged down, driven by rising U.S. bond yields amid concerns about burgeoning U.S. debt, and on speculation big emerging countries may move out of U.S. dollar assets. [nLB775172]

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 50 points to 10,597.98 on Wednesday as firmer oil prices boosted energy shares, but the rise was limited by caution about the prospects for the North American economy. [nN10464057].

Here is some news that could affect the market:

OIL RISES TO $72 AS IEA RAISES DEMAND OUTLOOK

Oil firmed to $72 a barrel on Thursday after the International Energy Agency raised its estimate for 2009 oil demand, adding to signs the fall in consumption may have bottomed out. [nSIN191080]

GOLD INCHES LOWER AS DOLLAR AWAITS DIRECTION

Gold edged lower in Europe on Thursday, creeping below $950 an ounce, with the dollar paring losses against the euro as the currency awaited fresh direction from another U.S. government debt auction later in the session.

MDS POSTS QUARTERLY LOSS, TO CUT 180 JOBS   Continued...