CANADA STOCKS-TSX may rise in tandem with commodities

Tue Jun 16, 2009 8:46am EDT
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TORONTO, June 16 (Reuters) - Toronto's main stock index could open higher on Tuesday as a weaker U.S. dollar lifts commodity prices, bolstering the resource-laden TSX.

Global equities were off earlier lows on Tuesday, boosted in part by a survey showing German investor confidence surged in June [MKTS/GLOB]. U.S. stock index futures pointed to a higher open.

On Monday, the S&P/TSX composite index .GSPTSE ended down 250.18 points, or 2.35 percent, at 10,394.78. All 10 of its main sectors ended lower.

Here is some news that could affect the market:


Air Canada ACa.TO ACb.TO said it has completed tentative agreements with all its unionized workforce in the country on a pension funding moratorium. [ID:nBNG112694]


A Canadian pension fund moved closer to sealing a takeover of Australia's Macquarie Communications Infrastructure Group MCG.AX on Tuesday, raising its offer to $1.3 billion and securing the approval of the two biggest shareholders.

The Canada Pension Plan Investment Board (CPPIB) said Macquarie Communications (MCIG) shareholders would get a special cash dividend of A$0.50 per security if they approved the offer. [ID:nSYD159098]   Continued...