CANADA STOCKS-TSX may open lower as recovery fears mount

Tue Aug 24, 2010 8:51am EDT
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Aug 24 (Reuters) - Toronto's main stock index could open lower on Tuesday as concerns over domestic growth and the global recovery dent commodity prices, pressuring the resource-heavy index.


* Canadian equity futures <0#SXF:> pointed to a lower open.

* The Canadian dollar weakened and rate hike expectations fell after a report showed Canadian retail sales grew less than expected in June as gasoline prices slumped, partially offsetting a rebound in auto sales. [ID:nN24252766]

* U.S. stock index futures fell on Tuesday, tracking global equities lower, as investors grew concerned over the pace of economic recovery and prepared for data expected to show further weakness in U.S. housing. [.N]

* European stocks tumbled to a five-week low, with construction and cement shares taking a beating after Irish building supplies major CRH Plc (CRH.I: Quote) warned core earnings would fall 10 percent this year.

* Shares were also hammered in Tokyo, where the Nikkei average hit a 15-month closing low below 9,000 points, with hedge funds and foreigners seen selling amid mounting concern about the authorities' inaction over the strong yen.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 1.03 percent in early trade.   Continued...