CANADA STOCKS-TSX to climb at the open after China rebound

Thu Aug 20, 2009 8:28am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

TORONTO Aug 20 (Reuters) - Toronto's main stock index is expected to head higher on Thursday at the opening bell, following a rebound in Chinese stocks that gave investors the green light to embrace a more optimistic outlook on the world recovery.

The TSX has been volatile this week on seesawing appetite for risk, largely taking direction from the Chinese stock market, which has become a barometer of confidence in the strength of the recovery.

The S&P/TSX composite index .GSPTSE finished Wednesday's session up 12.99 points, or 0.12 percent, at 10,686.83, after fighting back from an earlier 1.5 percent slide when market mood was undermined by a selloff on Chinese stock markets.

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

GOLD

Gold held near $945 an ounce in Europe, up a touch from the previous session as the U.S. dollar's retreat from early highs against a basket of currencies boosted interest in the metal as an alternative asset. [ID:nLK328561]

OIL

Oil prices eased towards $72 a barrel, after rising more than 4 percent rise in the previous session, as optimism about the pace of demand recovery in the United States faded. [ID:nSP514250]

MAGNA   Continued...