CANADA STOCKS-Weak oil could weigh on TSX; world stocks up

Wed Mar 18, 2009 8:22am EDT
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TORONTO, March 18 (Reuters) - Toronto's main stock index could open little changed on Wednesday, pressured by weakness in oil prices, but optimism that has helped keep the market higher for the past six straight sessions may continue building.

World share prices rose on Wednesday, helped higher in part by optimism over Tuesday's forecast-beating U.S. housing data [ID:nLI309126]. However, U.S. stock index futures pointed to a lower open as investors awaited decisions from the Federal Reserve's two-day policy setting meeting. [ID:nLI316511]

On Tuesday, the S&P/TSX composite index .GSPTSE rose 172.89 points, or 2.06 percent, to close at 8,559.60, driven by energy issues as the price of oil rose.

Here is some news that could affect the news:


Canada and the world are facing a long and deep recession that will fundamentally alter the nature of capitalism, former Canadian central bank chief David Dodge told the Globe and Mail in an interview published on Wednesday. [ID:nBNG348958]


Oil fell from a 2-1/2 month high to around $48 a barrel after industry data from the American Petroleum Institute showed large builds in U.S. crude stocks. The U.S. Energy Information Administration is expected to issue stock data later on Wednesday. [ID:nSYD321728]

GOLD, BASE METALS   Continued...