RPT-CANADA STOCKS-TSX may open lower on resources, data eyed

Thu Feb 18, 2010 8:21am EST
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(Repeats to fix typo in headline)

TORONTO Feb 18 (Reuters) - Canada's main stock market index could open lower on Thursday, threatening its six-session winning streak, as weak oil and flat gold prices weigh on the resource-heavy index.

Investors will also take time to digest a raft of corporate results from resource companies such as Barrick Gold ABX.TO and Nexen Inc NXY.TO, as well as key economic data from both sides of the border.

Toronto's main stock market index finished higher for a sixth straight session on Wednesday as rosy U.S. economic data and retreating worries about European debt lifted bank shares.[ID:nN17127380]

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


Higher gasoline prices pushed Canada's annual inflation rate to just below the central bank's 2 percent target in January, but that is not expected to trigger interest rate hikes before the second half of this year.[ID:nN18179821]

Meanwhile, the U.S. Labor Department will release its weekly report on initial jobless claims at 8:30 a.m. (1330 GMT) with economists expecting 430,000 new claims compared with last week's reading of 440,000. The January Producer Price Index will also be released, with consensus forecasts calling for a rise of 0.8 percent following a 0.4 percent rise in December.

BARRICK GOLD   Continued...