CANADA STOCKS-Toronto stocks may fall as oil eases

Tue Oct 21, 2008 9:16am EDT
 
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TORONTO Oct 21 (Reuters) - The Toronto Stock Exchange's main index may fall at the open on Tuesday as sliding commodity prices may put pressure on resource issues and profit-taking may ensue after two consecutive days of strong gains.

The index climbed more than 7 percent in a broad-based rally on Monday supported by underlying commodity prices.

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

BANK OF CANADA CUTS RATES

The Bank of Canada cut its key interest rate by a quarter-point, less than expected, to 2.25 percent and said it would likely have to ease further to combat the effects of the global financial crisis. [ID:nBAC000257]

OIL EASES, GOLD DROPS

Oil slipped to less than $73 a barrel, pressured by expectations that a global recession will crush demand, which could limit the impact of any supply cuts by OPEC. [ID:nSP339775]

Gold fell nearly 4 percent after the U.S. open [ID:nLL272021]

OIL COMPANIES Q3 RESULTS DUE   Continued...