CORRECTED - CANADA STOCKS-TSX could open lower as oil price softens
(Corrects Geely item to show the nature of talks were not about a joint bid for Opel, but an alliance that could involve a production partnership and a possible stake. Also corrects Ivanhoe upgrade to show price target rose by $0.50, not from $0.50)
TORONTO, Sept 17 (Reuters) - Toronto's main stock market index could open lower on Thursday as oil prices weakened and investors take a breather following the market's heady gains over the past few sessions.
Oil prices hovered around $72.50 a barrel after rising more than 5 percent this week as swollen U.S. distillate stocks such as diesel offset positive sentiment in other markets. [O/R]
Toronto's main stock index rose for a fifth-straight session on Wednesday, lifted by a rally in the energy and materials sectors as investors bet the economy may be set to turn around. [.TO]
Here is some news that could affect the market:
Potash Corp of Saskatchewan POT.TO said on Wednesday North American potash inventories declined for a second consecutive month, but inventories at the manufacturer level continue to remain well above average. [nN16156605]
Canadian consumer prices fell by 0.8 percent in August compared with a year earlier, the second-largest 12-month drop in more than 50 years, dragged down by falling gasoline prices, Statistics Canada said on Thursday. [nN17185718] Continued...