CANADA STOCKS-TSX could open weaker after U.S. data

Wed May 13, 2009 9:08am EDT
 
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TORONTO May 13 (Reuters) - Toronto's main stock market index could open lower on Wednesday after weaker-than-expected data hurt sentiment, but firm oil prices could support the heavily weighted energy sector.

A U.S. government report showed sales at U.S. retailers fell for a second straight month in April, pulled down by sluggish gasoline and electronic goods purchases. [ID:nN12361802]

But the Toronto index, which has fallen in the past two sessions, could find support from the price of U.S. crude oil, which rose 0.6 percent on Wednesday. [nSIN127415]

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed little changed on Tuesday, down just 0.16 percent at 10,077.70, as the hefty energy and financial groups lost ground, but were offset by strength in the mining-heavy materials group.

Here are some of the stories that may affect the market:

ING CANADA POSTS LOSS IN Q1

Home and auto insurer ING Canada Inc IIC.TO posted a first-quarter loss as weak equity markets led to investment losses. [nBNG499542]

INTEL HIT WITH $1.45 BLN EU ANTITRUST FINE

The European Commission imposed a record 1.06 billion euro ($1.45 billion) fine on chipmaker Intel Corp (INTC.O: Quote) on Wednesdays and ordered it to halt illegal rebates and other practices to squeeze out rival AMD AMD.N. [ID:nLD843461]   Continued...