CANADA STOCKS-TSX set to open lower as commodities hit

Fri Dec 19, 2008 8:48am EST
 
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TORONTO Dec 19 (Reuters) - Toronto's main stock index is poised to open lower on Friday as the resource-laden market may be hit by sliding oil and gold prices and as fertilizer giant Potash Corp of Saskatchewan (POT.TO: Quote) cut its full-year earnings outlook.

On Thursday, the S&P/TSX composite index .GSPTSE closed down 298.76 points, or 3.42 percent, to 8,425.35, as tumbling oil prices hit energy issues while materials and financial stocks felt the sting of deepening worries about the health of the global economy.

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

CANADA CPI

Canada's annual inflation rate dropped to 2.0 percent in November from 2.6 percent in October as lower gas prices offset an increase in food and shelter costs, Statistics Canada said on Friday. [ID:nN19431958]

POTASH (POT.TO: Quote)

Potash Corp of Saskatchewan Inc, the world's biggest fertilizer company, cut its outlook for full-year earnings by 10 percent, blaming the weak world economy. [ID:nN18416174]

RIM RIM.TO

Research In Motion RIMM.O delivered a quarterly profit in line with forecasts and a rosier-than-expected outlook that reflects strong holiday sales of its BlackBerry smartphones even as the global economy slows. [ID:nN18411402]   Continued...