CANADA STOCKS-TSX set to open lower, oil drops

Wed Dec 24, 2008 8:20am EST
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TORONTO Dec 24 (Reuters) - Toronto's main stock market index was seen opening lower on Wednesday as falling gold and energy prices weigh on the resource-heavy market.

But volume was expected to be light as investors book off ahead of the Christmas break. The TSX is set to close at 1300 (1800 GMT).

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 62.38 points, or 0.8 percent, at 8,311.91 on Tuesday.

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


Oil fell more than $2 to below $37 a barrel on Wednesday, tracking global equity losses and ahead of U.S. data expected to show an increase in crude stocks.[nSP228240]


Gold slipped in thin holiday trade, shrugging off a weaker dollar, as crude oil prices fell over worries of deteriorating demand. [nLO238363]

BCE Inc BCE.TO said it has entered into an automatic purchase plan with a broker for repurchases of its common shares under its normal course issuer bid. [nWNAB5795]   Continued...