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: Quote) 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.

ECONOMIC DATA

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...