CANADA STOCKS-TSX could rise on gold, oil

Tue Oct 13, 2009 7:57am EDT
 
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TORONTO Oct 13 (Reuters) - Toronto's main stock market could start the session higher on Tuesday as record gold prices and stronger oil futures boost the resource-heavy market.

But a stronger Canadian dollar could temper the gains as the rise against the falling U.S. currency could weigh on exporters.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE begins the week at 11,436.92 after gaining 4.4 percent last week. The market was closed on Monday for Canada's Thanksgiving celebrations.[nN0988408]

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

RECORD GOLD

Gold hit a record high in Europe on Tuesday as the U.S. dollar fell to day lows against the euro, fueling interest in bullion as an alternative asset.[ID:nLD592188]

OIL RISES

Oil rose for the fourth straight session on Tuesday, edging above $73 a barrel on the back of rising optimism about the pace of global economic recovery and weakness in the dollar. [nSIN39761]

STRONG CANADIAN DOLLAR   Continued...