CANADA STOCKS-TSX may fall on oil, Europe woes

Tue Feb 17, 2009 9:05am EST
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TORONTO Feb 17 (Reuters) - Toronto's main stock index may fall at the open on Tuesday as the price of oil slipped and new data suggested a deteriorating European economy.

Growing concern about the health of emerging European nations cast a chill over European shares and U.S. equity futures indicated a sharply lower start for Tuesday.

The S&P/TSX composite index .GSPTSE fell 3.7 percent last week. It was dragged lower on Friday by financial services stocks on persisting worries about the health of the U.S. banking sector, while materials shares dropped on the falling price of gold.

The TSX was closed on Monday for provincial holidays.

Below is some of the news that may affect the market.


The price of oil fell to around $37 a barrel as bleak economic indicators turned the focus back to the worldwide slump in demand, outweighing lower supplies due to OPEC cutbacks. For more see [ID:nSIN274982].


Gold rose more than 2 percent to a seven-month high on reports eastern Europe will be more affected by recession than elsewhere and after Russia's central bank said it plans to buy more gold. [ID:nLH371948]   Continued...