CANADA STOCKS-TSX may open lower on weakness in energy, metals

Thu May 21, 2009 8:15am EDT
 
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TORONTO May 21 (Reuters) - Toronto's main stock market index could open lower on Thursday, pulling back even further from its seven-month high, as weak energy and metals issues weigh on the resource-heavy market.

But gold issues could help temper some of the losses as the precious metal flirts with an eight-week high.

Toronto's main stock index .GSPTSE climbed more than 1 percent on Wednesday to close at 10,232.44, boosted by rising oil and gold prices, but it pared stronger early gains as investors took profits after a sharp two-day rise. [nN20535913]

Here are some of the stories that may affect the market:

OIL FALLS BELOW $61 AFTER RISE TO 6-MONTH PEAK

Oil fell more than a dollar to below $61 a barrel on Thursday, after hitting a six-month high in the previous session. [nSIN101873]

COPPER PRICES SLIDE AS MARKET CONFIDENCE CRUMBLES

Copper prices slid on Thursday as industrial metals markets were reminded by data and official forecasts that the road to economic recovery was likely to be long, arduous and fraught with uncertainty. [nLL341053]

FED MULLED INCREASING DEBT PURCHASES IN APRIL   Continued...