CANADA STOCKS-TSX may open lower on gold, retailers eyed

Tue Nov 17, 2009 7:59am EST
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TORONTO Nov 17 (Reuters) - Canada's main stock market index may open lower on Tuesday, giving back some of the gains notched in a triple-digit advance in the previous session, as weaker gold and energy prices weigh on the resource-heavy bourse.

Investors will also digest the latest results from key North American retailers including U.S. home improvement giant Home Depot Inc (HD.N: Quote) and Canadian grocer Loblaw Co (L.TO: Quote) for clues on the mood of consumers as the key holiday season ramps up.

Toronto's main stock index shot to its highest close in more than three weeks on Monday as a rally in oil prices helped power oil and gas shares. [nN16521282]

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


Gold edged lower in Europe on Tuesday, giving up some of the gains that took it to record highs a day before, as the U.S. dollar recovered some lost ground, sparking a correction in commodities prices. [nLH581355]


Oil fell below $79 a barrel on Tuesday as the U.S. dollar rose and a weekly U.S. inventory report was expected to show higher crude stocks. [nSYD75280]

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