CANADA STOCKS-TSX could open higher, resources weigh

Thu May 14, 2009 8:04am EDT
 
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TORONTO May 14 (Reuters) - Canada's main stock index could open higher on Thursday, following a steep loss in the previous session, as investors look for bargains. But resource companies could weigh on the market on falling energy prices and weaker gold.

Toronto's main stock index fell for a third consecutive session on Wednesday with heavy losses in the energy and financial groups as soft U.S. retail sales figures wounded investor sentiment.

The S&P/TSX composite index .GSPTSE sank 3.7 percent, to 9,709.51, with all 10 of the index's main sectors lower. For more see [ID:nN13430158].

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

OIL FALLS BELOW $57 AFTER IEA CUTS DEMAND FORECAST

Oil fell below $57 a barrel on Thursday after the International Energy Agency said global oil consumption will fall this year at the fastest rate since 1981. [ID:nSIN503436]

GOLD EASES AS DOLLAR GAINS, EQUITY PRESSURE SUPPORTS

Gold dipped on Thursday as the dollar firmed, but was seen supported by risk aversion as equity markets succumbed to doubts that a recent winning streak was sustainable. [ID:nLE725830]

WAL-MART POSTS FLAT QUARTERLY PROFIT   Continued...