CANADA STOCKS-TSX set to open mixed, resources eyed

Tue Dec 23, 2008 8:58am EST
 
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TORONTO Dec 23 (Reuters) - Toronto's main stock market could open mixed on Tuesday as it tries to rebound from a 300-point drop in the previous session, but volatile oil and gold prices were seen weighing on the resource-heavy index.

Volume is expected to be light, however, as investors take time out for the holidays.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 302.47 points, or 3.5 percent, at 8,249.53 on Monday as analyst downgrades of energy and fertilizer companies combined with a steep drop in crude prices to drag the resource-heavy market into a broad sell-off.

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

GOLD FALLS

Gold dipped on Tuesday on falling oil prices, with trading thin ahead of a slew of economic data from the United States. and before the Christmas holiday on Thursday. For details, see[ID:nLN092715].

OIL VOLATILE

Oil prices crept above $40 a barrel on Tuesday, supported by short-covering and book-squaring ahead of key U.S. economic data. [ID:nSYD138699]

BARRICK GOLD NAMES CEO   Continued...