CANADA STOCKS-TSX to open lower as Goldman hits commodities

Mon Apr 19, 2010 8:57am EDT
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TORONTO, April 19 (Reuters) - Canada's main stock market looked set to open lower on Monday as fraud charges against Goldman Sachs continue to rattle commodity and equity markets.

Wall Street is also set for a lower start with focus on the banking sector. Citigroup Inc (C.N: Quote) posted a $4.43 billion first-quarter profit as it set aside less money to cover credit losses. The other heavy hitter on the earnings agenda is technology bellwether IBM (IBM.N: Quote). [.N]

European shares were down, with banks extending declines from Friday and airlines sliding as flying restrictions persisted. Airline industry group IATA criticized Europe's response to a volcanic ash cloud and called for urgent steps to reopen airspace after five days of closures that have cost airlines $250 million a day.

Asian markets suffered their biggest loss in 10 weeks after China clamped down harder on property speculation, telling banks to refuse credit to people who are clearly buying homes for speculative purposes.

Here is some news that could affect stock prices:


Oil hit a 3-week low below $82 a barrel on Monday as the fraud charges filed against Goldman Sachs (GS.N: Quote) dampened risk appetite and European flights remained disrupted, curbing jet fuel use. [O/R]


Gold fell more than 1 percent in Europe on Monday to its lowest in nearly two weeks as news that the U.S. authorities have charged Goldman Sachs with fraud hurt commodities but lifted the dollar. [GOL/]   Continued...