CANADA STOCKS-TSX set for soft open as commodities weigh

Mon Sep 21, 2009 8:29am EDT
 
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TORONTO, Sept 21 (Reuters) - Toronto's main stock market index could open lower on Monday as weak commodity prices pressure the resource-laden market, and investors pause ahead of a U.S. Federal Reserve meeting and G20 summit this week.

World stocks .MIWD00000PUS fell on Monday, pulling further back from last week's 11-month high as lower energy and commodity prices and caution ahead of a Federal Reserve meeting and G20 summit prompted investors to trim risky trades. [MKTS/GLOB]

On Friday, the S&P/TSX composite index .GSPTSE ended the session down 82.28 points, or 0.71 percent, at 11,445.95.

Here is some news that could affect the market:

POTASH CORP OF SASKATCHEWAN (POT.TO: Quote)

Potash Corp of Saskatchewan (POT.N: Quote), the world's biggest fertilizer producer, lowered its 2009 earnings target on Friday, citing weak sales. [ID:nN18272693]

OIL DROPS

Oil fell by almost 2 percent towards $70 a barrel on Monday as further signs of weak fuel demand raised expectations prices may have raced ahead of the nascent economic recovery. [O/R]

GOLD SAGS   Continued...