CANADA STOCKS-TSX may open lower as commodity prices struggle

Thu May 13, 2010 8:55am EDT
 
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May 13 (Reuters) - Toronto's main stock index could open lower on Thursday as commodity prices, including oil, struggled to make gains.

Wall Street was also set for a modest start as U.S. stock index futures trimmed gains after data showed applications for unemployment insurance fell modestly in the latest week, while the number of people still drawing benefits unexpectedly rose. [.N]

Tech stocks will be in focus after Cisco (CSCO.O: Quote) reported better-than-expected results, but its CEO said there was still need for caution.

European stocks were higher after forecast-beating results from J Sainsbury (SBRY.L: Quote) and BT Group Plc (BT.L: Quote).

Investors also kept a close eye on the euro zone debt problems, though some concerns eased after Portugal agreed to tough new austerity measures.

Major Asian equities rose with the Nikkei and Shanghai Composite Index up more than 2 percent.

Here is some news that could affect stock prices:

OIL

Oil prices were mixed on Thursday, with the benchmark U.S. crude contract pressured below $75 a barrel by record stockpiles in the U.S. Midwest, while London-Brent crude held above $81 a barrel. [O/R]   Continued...