CANADA STOCKS-TSX may climb on rising oil, eye on Obama visit

Thu Feb 19, 2009 8:25am EST
 
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TORONTO Feb 19 (Reuters) - Toronto's main stock index may rise at the open on Thursday after three straight days of losses as the price of crude oil headed higher.

Gold issues may limit gains as gold companies reported mixed results and the price of the precious metal eased.

Investors may also be keen for news from U.S. President Barack Obama's one-day visit to Canada, where trade issues are expected to dominate the agenda.

Global stocks offered hints of a positive start, while U.S. stock futures suggested Wall Street might hold off from hitting fresh bear-market lows as a search for beaten-down shares provides some support.

The S&P/TSX composite index .GSPTSE fell broadly on Wednesday for a third straight session, touching a 2009 low, pressured by weak energy and financial issues.

Below is some of the news that may affect the market.

OBAMA VISITS CANADA

Obama will seek to quell Canadian concerns about U.S. protectionism when he makes his first foreign trip as president on Thursday to the United States' biggest trading partner and energy supplier. The president's tight schedule on the one-day trip to Ottawa leaves little time for substantive talks with Prime Minister Stephen Harper. [ID:nN18466482]

* See also: Obama's visit to Ottawa this week has cast a bright light on Canada's oil sands [ID:nN18488664]   Continued...