CANADA STOCKS-TSX seen lower as oil, world stocks stumble

Thu Sep 24, 2009 8:15am EDT
 
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TORONTO, Sept 24 (Reuters) - Toronto's main stock index will likely fall at the open on Thursday along with weak oil futures and a drop in world stocks as investors grow cautious ahead of the Group of 20 summit.

Leaders of the world's biggest economies meet in Pittsburgh Thursday to discuss ways to nurture a fragile recovery from the worst global recession since 1930s and to help cushion the global economy from future crises. [ID:nN24427327]

On Wednesday, the S&P/TSX composite index .GSPTSE closed down 68.19 points, or 0.59 percent, at 11,517.54 as falling commodity prices erased gains after the U.S. Federal Reserve said the economy was recovering. [.TO]

Here is some news that could affect the market:

MORTGAGE PROGRAM

The Canadian government plans to extend a program to buy up to C$125 billion worth of insured mortgages, the Globe and Mail reported, without naming its sources. The program was scheduled to end next week, according to the paper. [ID:nBNG338328]

RESEARCH IN MOTION RIM.TO

Research in Motion Ltd is expected to forecast strong gains for its current quarter on Thursday as it gets set to update its BlackBerry smartphones for consumers and business users. [ID:nN22344504]

CANWEST CGS.TO   Continued...