CANADA STOCKS-TSX may open lower on resources, data eyed

Tue Feb 23, 2010 7:29am EST
 
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TORONTO Feb 23 (Reuters) - Canada's main stock market index could open lower on Tuesday as weak gold and energy prices weigh on the commodity-laden bourse.

But reports of a $1 billion initial public offering by a subsidiary of Canada's Barrick Gold Corp (ABX.TO: Quote) could temper the losses.

Investors will also take time to digest key U.S. data, including consumer confidence that is expected to show consumers are a little less upbeat.

Toronto's main stock index closed lower on Monday, snapping an eight-day stretch of gains, dragged down by weakness in resources and financials. [ID:nN22215194]

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

AFRICAN BARRICK

African Barrick Gold (ABG), a spin-off of Barrick Gold, has launched a London listing to raise about $1 billion that values its assets at about $4 billion, people familiar with the matter said on Tuesday. [ID:nLDE61M0ZX]

U.S. CRUDE LOWER

Oil broke a five-day rally on Tuesday, although prices were supported near $80 a barrel by ongoing strikes by French oil workers, which could close more than half of the country's refining capacity.[ID:nSGE61M06K]   Continued...