CANADA STOCKS-TSX could open lower as China worries persist

Wed Jan 13, 2010 8:40am EST
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TORONTO Jan 13 (Reuters) - Toronto's main stock index could open lower on Wednesday alongside falling oil and copper prices as investors worried that signs of tighter monetary policy in China could stem demand for Canada's natural resources.

But losses in the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE could be partly offset by the impact of higher gold prices on producers as the U.S. dollar weakened versus the euro.

U.S. futures also pointed to a slightly higher open. [.N]

Canadian stocks finished more than 1 percent lower on Tuesday as resource prices came under pressure on news that China was taking steps to cool its economy.

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


Oil fell to its lowest level this year, dipping below $80 a barrel after an industry report showed rising U.S. distillate inventories, despite the severe northern hemisphere winter. [O/R]


Copper hit a two-week low as investors worried that the signs of tighter monetary policy in China could stem demand from the world's top consumer of industrial metals. [MET/L]   Continued...