CANADA STOCKS-TSX may retreat at open on weak oil, gold

Tue Mar 17, 2009 8:30am EDT
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TORONTO, March 17 (Reuters) - Toronto's main stock index could open slightly lower on Tuesday as the price of oil and gold weaken, and as the market tracks world stocks downward after hitting its highest closing level in the more than a month.

The S&P/TSX composite index .GSPTSE ended the session up 83.32 points, or 1 percent, at 8,386.71, its highest closing level since Feb 13. It was the first time since Feb. 9 that the index has closed higher in five straight sessions.

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


World stocks eased on Tuesday as a five-day winning streak ran out of steam with investors tempering early optimism, but moves by the Bank of Japan to shore up its banking system helped to limit losses. [MKTS/GLOB] U.S. stock index futures pointed to a flat open. [ID:nLH259899]


Oil CLc1 sags to around $47 a barrel ahead of U.S. inventory data expected to show a build in crude oil stocks. Data from industry group the American Petroleum Institute (API) will be closely watched later on Tuesday as a preliminary Reuters poll showed analysts forecast a 500,000 barrel increase in domestic crude stocks last week. [EIA/S]


Gold prices were slightly lower on Tuesday with players watching stocks to gauge investors' risk appetite. [ID:nT314324] Base metals prices were mixed. [ID:nLH504717]   Continued...