CANADA STOCKS-TSX may open lower on German ban jitters

Wed May 19, 2010 8:43am EDT
 
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May 19 (Reuters) - Toronto's main stock index looked set to open lower on Wednesday after a surprise move by Germany to ban risky bets on bonds, stocks and credit protection in a tentative crack down on speculative trading.

European and Asian equities fell sharply with banking stocks being the top losers.

Oil was down about 2 percent, earlier touching its lowest in more than seven months, pressured by high U.S. stockpiles.

Gold slipped as low as US$1,205.60 an ounce, caught up in selling of other assets and as confidence in the euro waned.

But news U.S. inflation remains tame could help support stocks. U.S. consumer prices unexpectedly fell in April for the first time in a year, with the core annual rate recording its smallest gain since 1966. [ID:nN19219213]

Here is some news that could affect stock prices:

OIL DROPS

Oil fell to $68 a barrel after touching its lowest in more than seven months on Wednesday, pressured by high U.S. stockpiles and as concern over tighter financial regulation dampened appetite for riskier assets. [O/R]

BASE METALS BUCKLE   Continued...