CANADA STOCKS-TSX may open lower on weak oil, economic gloom

Fri Jan 23, 2009 8:45am EST
 
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TORONTO Jan 23 (Reuters) - Toronto's main stock index could open lower on Friday, pulled down by weakness in the price of oil and base metals and on reports overseas that further aggravated the sullen global economic picture.

On Thursday, the S&P/TSX composite index .GSPTSE dropped 3.1 percent, or 271.33 points, to finish at 8,486.56, led lower by weakness in the energy sector and glum economic readings on both sides of the border.

Here is some news that could affect the market:

RIM RIM.TO

Securities regulators in United States and Canada are close to negotiating final settlements with senior executives of Research in Motion Ltd over controversial options-granting practices, a Canadian newspaper reported. [ID:nBNG397838]

EUROPEAN, UK RECESSION

European economic reports provided fresh signs of the depth of the recession on Friday, while data in Britain confirmed the economy had gone into recession as GDP contracted more than expected in the last quarter of 2008. [ID:nSP365996]

OIL DOWN

Oil falls below $43 on Friday, but trimmed earlier losses after a survey showed OPEC cut supplies sharply in January. [ID:nSP6823]   Continued...