CANADA STOCKS-TSX may open lower on weak commodities; China eyed
TORONTO Jan 20 (Reuters) - Toronto's main stock index could open lower on Wednesday as weak commodity prices hurt energy and metals producers given fresh evidence of tightening credit policy in China and a stronger U.S. dollar.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE could also follow U.S. futures lower, weighed by China's uncertain demand outlook and earnings reports from a host of U.S. banks that increased uneasiness about the state of financial companies. [.N]
Canadian stocks closed slightly higher on Tuesday as an uptick in bullion prices helped push up gold producers, but the move higher was offset by the drag of some falling blue chips.
Here is some of the news that may affect the market:
Chinese authorities ordered some big banks to curb lending for the rest of January, intensifying their efforts to prevent the world's third-largest economy from overheating. [ID:nTOE60J09N]
Oil slipped below $78 a barrel on fresh evidence of tightening credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude in the latest week. [O/R]
GOLD GIVES IN Continued...