CORRECTED - CANADA STOCKS-TSX may open lower after 4-day rally

Fri Jul 17, 2009 8:54am EDT
 
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(Corrects date, earnings details in third paragraph)

TORONTO, July 17 (Reuters) - Toronto's main stock index could open lower on Friday, as falling oil prices weigh on the resource-heavy market and some investors look to pocket gains from four straight rising sessions this week.

World stocks hit a one-month high on Friday on growing optimism that the earnings season may turn out to be better than expected, while investors set their eyes on giants such as Citigroup (C.N: Quote) for clearer market trend. [ID:nLH437850]

U.S. stock index futures pointed to a lower start on Wall Street on Friday after quarterly results from bellwethers, including Google Inc (GOOG.O: Quote), Bank of America Corp (BAC.N: Quote) and General Electric Co (GE.N: Quote).

On Thursday the S&P/TSX composite index .GSPTSE closed up 88.96 points, or 0.87 percent, at 10,304.42.

Here is some news that could affect the market:

BONAVISTA ENERGY TRUST BNP_u.TO

Bonavista Energy Trust said on Thursday it is buying natural gas-producing properties from EnCana Corp for C$694 million ($620 million) to boost its output by 22 percent at a time of depressed gas prices. [ID:nN16438105]

POTASH CORP (POT.TO: Quote)   Continued...