CANADA STOCKS-TSX set to open mixed, commodities eyed

Mon Dec 22, 2008 8:52am EST
 
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TORONTO Dec 22 (Reuters) - Toronto's main stock market index could open mixed on Monday as strong oil and gold prices are offset by more worries over the global economic slowdown.

Research In Motion RIM.TO could also be in the spotlight after it said it planned to oppose Certicom Corp's CIC.TO attempts to prevent RIM from acquiring it in a C$66 million ($54.8 million) deal. [nBNG297439].

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

ASIA ECONOMY SLOWS

China cut interest rates on Monday and Japan warned it was sliding deeper into a recession encroaching steadily on the global economy, closing factories and throttling trade. [nSP369974].

OIL RISES

Oil rose toward $43 a barrel on Monday, partly inspired by a weak U.S. dollar and comments from Saudi Arabia that OPEC supply cuts will succeed in stabilizing the market. [nSYD348289]

GOLD CLIMBS

Gold climbed more than 1 percent in thin trade on Monday, as the dollar lost ground against the euro while oil's fall capped gains, traders and analysts said. [nLM691960]   Continued...