CANADA STOCKS-TSX may open lower on weak resource prices

Wed Jun 17, 2009 7:28am EDT
 
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 TORONTO, June 17 (Reuters) - Toronto's main stock market
index could open lower on Wednesday as weak oil and gold prices
weigh on the resource-laden market.
 Investors may also be cautious ahead of a key speech by
U.S. President Barack Obama which will lay out a regulatory
reform package aimed at avoiding a repeat of the banking
crisis. For more see [ID:nSP465516].
 Toronto's main stock index closed down 87.38 points at
10,307.40 on Tuesday despite a solid start to the day as
investors sought to pocket gains from the index's remarkable 40
percent rally from the five-year low it hit in March.
[ID:nN16304003].
 Here is some news that could affect the market:
 OIL EASES TO $70 BEFORE INVENTORY REPORT
 Oil CLc1 eased to around $70 a barrel on Wednesday
pressured by weaker stock markets as investors awaited a U.S.
inventory report expected to show supplies declined in the
world's top consumer. [ID:nSP290171]
 GOLD EDGES DOWN AS DOLLAR RECOVERS, EYES U.S. DATA
 Gold edged lower in Europe on Wednesday as the dollar
retraced its early losses against a basket of currencies, with
traders awaiting direction from U.S. inflation data due later
in the session. [ID:nLH366911]
 CANADA ELECTION RISK RECEDES AFTER TALKS
 The chances of an early Canadian election appeared to
diminish sharply on Tuesday after the leader of Canada's main
opposition party held two rounds of "productive" talks with
Prime Minister Stephen Harper. [ID:nN16296597]
 CF INDUSTRIES STILL COMMITTED TO BUYING TERRA
 U.S. fertilizer maker CF Industries Holdings Inc CF.N
said on Tuesday it is still committed to buying rival Terra
Industries Inc TRA.N as it faces down a hostile bid from
Canada's Agrium Inc (AGU.TO: Quote). [ID:nN16280370]
 Canada may lay out "black liquor" response
 Canada is expected to lay out plans on Wednesday to aid the
country's pulp and paper industry, which says it has become the
unintended victim of a tax windfall enjoyed by U.S. rivals.
[ID:nN16247928]
 TRANSCANADA PAYS $550 MLN FOR REST OF KEYSTONE LINE
 TransCanada Corp (TRP.TO: Quote) is buying ConocoPhillips' (COP.N: Quote)
remaining stake in the Keystone pipeline for $550 million,
giving it full control over the new Canada-to-United States oil
pipeline, it said on Tuesday. [ID:nN16304179]
 RESEARCH ROUND-UP
 Following is a summary of research action on Canadian
companies reported by Reuters on Wednesday. For more, see
[RCH/CA].
 *JP Morgan cuts Domtar (UFS.TO: Quote) to neutral from overweight
 ($1=$1.14 Canadian)
 (Reporting by Scott Anderson; Editing by James Dalgleish)