CANADA STOCKS-TSX set to open lower on weak commodity prices

Thu Apr 15, 2010 9:01am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

TORONTO, April 15 (Reuters) - Canada's main stock index looked set to open lower on Thursday, after closing at its highest level in nearly 19 months the day before, as commodity prices were drifting lower on a firmer U.S. dollar.

The Canadian dollar rallied against the greenback in the earlier session to close above parity for the first time since May 2008. [CAD/]

U.S. markets will be the focus with no economic data on the calendar. Wall Street is set to open lower on Thursday as some investors second-guess the extent of a rally that has taken the key S&P 500 index above 1,200. [.N]

Earnings from major companies such as Google (GOOG.O: Quote), Advance Micro Devices AMD.N and PPG Industries (PPG.N: Quote) are expected to please the market.

European stocks edged higher, with drugmakers rising after sales at Roche beat forecasts, though gains were capped by weaker mining stocks and concerns about Greece.

Most Asian stocks were up, buoyed by robust growth figures from China, but also gave rise to concerns over tighter monetary policy in the future.

Here is some news that could affect stock prices:

OIL HELD BY DOLLAR, CHINA

Oil prices hovered below $86 a barrel as strength in the dollar tempered an early rally after news of surging growth in the world's number two oil consumer China. [O/R]   Continued...