CANADA STOCKS-TSX may open lower as commodities drop

Thu Nov 19, 2009 8:01am EST
 
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TORONTO Nov 19 (Reuters) - Toronto's main stock market index could open lower on Thursday as weak gold and energy prices constrain the resource-laden market.

The falling commodity prices, coupled with a stronger U.S. dollar, will likely cap the Toronto Stock Exchange's S&P/TSX composite index's .GSPTSE gains at four sessions.

The TSX finished higher on Wednesday, closing at 11,652.69, following early buying that sent the index to a 13-month high. [nN18132612]

Investors will also take time to digest a slew of Canadian data including wholesale trade and leading indicators due out before the market open.

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

U.S. CRUDE LOWER

U.S. crude futures drifted lower to below $79 a barrel on Thursday as gains in the dollar weighed on prices and doubts about the pace of demand recovery in the United States dampened sentiment. [nNSP484907]

GOLD RETREATS

Gold prices retreated on Thursday from the record high above $1,150 an ounce reached the previous session, reacting to a rise in the dollar .DXY as investors took profits in higher-yielding currencies. [nLJ345071]   Continued...