CANADA STOCKS-TSX seen lower as oil, gold pull back

Mon Sep 14, 2009 8:46am EDT
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TORONTO, Sept 14 (Reuters) - Toronto's main stock index is likely to open lower on Monday as weak commodity prices weigh on the resource-laden index and concerns about a U.S.-China trade spat hit investor sentiment.

Stock markets slid on Monday and the dollar firmed against major currencies due to fears that a burgeoning U.S.-China trade row could damage the world economy just as it was getting back on track. [MKTS/GLOB] [.N]

On Friday, the S&P/TSX composite index .GSPTSE rose 98.23 points, or 0.88 percent, to 11,253.23, touching its highest level in nearly a year, driven up by a rally in EnCana Corp ECA.TO on news of its plan to split the company.

Here is some news that could affect the market:


Oil eased towards $68 a barrel on Monday, after a decision by a major U.S. commodities exchange to enforce limits on large positions increased uncertainty and the dollar strengthened slightly. [O/R][USD/]


Gold prices fell more than 1 percent to below $1,000 an ounce in Europe on Monday, giving up some of the previous session's gains, as the dollar strengthened in response to a decline in stock markets. [GOL/]

Copper dropped to its lowest in almost two weeks on Monday and dragged other base metals to multi-week lows as the dollar gained broadly and weighed on all commodities while demand worries persisted. [ID:nLE652996]   Continued...