CANADA STOCKS - Factors to watch on Sept 15

Mon Sep 15, 2008 8:27am EDT
 
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TORONTO, Sept 15 (Reuters) - Canada's S&P/TSX composite index .GSPTSE will face pressures both from financial turmoil in the United States and from lower oil prices on Monday. Here is some of the news that is likely to influence the market. Reuters has not verified press reports and does not vouch for their accuracy.

LEHMAN BROTHERS HOLDINGS INC LEH.N

Wall Street fixture Lehman Brothers files for bankruptcy protection and Merrill Lynch MER.N agrees to be taken over by Bank of America Corp BAC.N. American International Group Inc AIG.N is reported to be seeking help from the Federal Reserve. For details, see [ID:nN13574113]

OIL CLc1 SLIDES BELOW $100

Oil plunges $7 to below $95 a barrel by 1135 GMT, as investors flee to safer havens due to turmoil in the U.S. financial system and on early signs Hurricane Ike spared key U.S. energy infrastructure. [ID:nSYD347689]

GOLD SPIKES, BASE METALS SINK

Gold rises more than 2 percent to above $772 an ounce on safe-haven buying and a weaker U.S. dollar after Lehman Brothers filed for bankruptcy protection [ID:nLF729185], while industrial metals sank. [ID:nLF422588]

VIRTEK VISION INTERNATIONAL INC VRK.TO

Virtek Vision announces receipt of unsolicited interest from Jaguar Financial Corp, which is contemplating a cash offer of C$1.05 per share plus additional consideration. [ID:nWNA3867]   Continued...