CANADA STOCKS-TSX may open lower as commodities slide
TORONTO, July 22 (Reuters) - Toronto's main stock market index could open lower on Wednesday, as weaker oil and metal prices weigh on the resource-heavy index and disappointing U.S. bank results drag on financial shares.
World stocks backed away from nine-month highs as worse-than-expected euro zone industrial figures and a warning about rising unemployment from U.S. Federal Reserve Chairman Ben Bernanke broke a seven-day winning streak. [ID:LM155101]
On Tuesday S&P/TSX composite index .GSPTSE closed down 25.39 points, or 0.24 percent, at 10,515.32 after six straight days of gains.
Here is some news that could affect the market:
SUNCOR (SU.TO: Quote)
Suncor Energy Inc cleared the last hurdle for its C$22.5 billion ($20.5 billion) takeover of Petro-Canada on Tuesday when it secured approval from Canada's Competition Bureau by agreeing to sell dozens of Ontario retail sites. [ID:N21264730]
Suncor swung to a second-quarter loss, hit by low oil and gas prices. [ID:LM164814]
MAGNA MGa.TO Continued...