CANADA STOCKS-TSX may open lower on weak commodities

Fri Jan 15, 2010 8:07am EST
 
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TORONTO Jan 15 (Reuters) - Toronto's main stock market may open lower on Friday as weak oil and gold prices weigh on the commodity-heavy index.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE heavily weighted financial group could also see activity after U.S. banker JPMorgan Chase & Co (JPM.N: Quote) reported mixed quarterly results.

Toronto's main stock index fell Thursday, hurt by weakening oil prices and by gold producers that failed to find support even though gold prices turned higher.

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

U.S. CRUDE OIL LOWER

Oil slipped below $79 per barrel on Friday and was set for its first weekly drop in more than a month on disappointing economic data and expectations for reduced heating demand in the United States. For details, see [ID:nLDE60E0CK]

GOLD DOWN

Gold fell towards $1,130 per ounce on Friday as a rising dollar made the metal costlier for non-U.S. investors, but palladium hit an 18-month high as traders continued to see strong investment demand. [ID:nLDE60E0N2]

JPMORGAN   Continued...