CANADA STOCKS-TSX seen weak on mixed resources; Fed cheer wanes

Wed Dec 17, 2008 8:48am EST
 
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TORONTO Dec 17 (Reuters) - Toronto's main stock index could open slightly lower on Wednesday as weakness in some commodity prices and enthusiasm over the U.S. Federal Reserve's interest rate cut fades.

On Tuesday, the S&P/TSX composite index .GSPTSE rose 262.28 points, or 3.1 percent, to close at 8,724.11 after the Fed cut its target for overnight interest rates to a record low range of zero to 0.25 percent, and said it would do everything it can to chase away the economic gloom.

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

CANADA STIMULUS

Canadian Finance Minister Jim Flaherty meets on Wednesday with provincial finance ministers to work toward crafting a stimulus package to be delivered in a Jan. 27 budget. [ID:N16292494]

Flaherty said on Tuesday the government will consider providing emergency aid to sectors other than automakers, including the beleaguered forestry industry.

NEXEN NXY.TO

Nexen Inc says it plans to acquire an additional interest in the Long Lake project and the joint venture lands from OPTI Canada Ltd. [ID:nWNAB3586]

HUSKY ENERGY (HSE.TO: Quote)   Continued...