CANADA STOCKS-TSX may open lower on weak commodities

Mon May 25, 2009 8:11am EDT
 
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TORONTO May 25 (Reuters) - Toronto's main stock market index could open lower on Monday as falling oil and gold prices put resource shares under pressure.

But the activity could be light with the U.S. markets, to which investors traditionally look for direction, closed for a holiday.

Toronto's main stock index closed higher on Friday as energy and materials issues got a lift from firmness in commodity prices. The S&P/TSX composite index .GSPTSE was up 43.83 points, or 0.4 percent, at 9,993.42. On the week, it was up 2.4 percent.

Here are some of the stories that may affect the market:

OIL FALLS TOWARD $61; OPEC CUT UNLIKELY

Oil prices fell toward $61 a barrel on Monday, giving away some of last week's gains, ahead of OPEC's meeting in Vienna, where the group was widely expected to agree not to cut oil output further. [nSYD459549]

GOLD SOFTENS SLIGHTLY, ETF HOLDINGS INCH UP

Gold prices softened on Monday but remained within sight of a two-month high above $960 an ounce touched in the previous session, retaining their sheen in the face of a weaker dollar. [nSP121279]

AIR CANADA, CREDIT CARD FIRM AMEND TERMS   Continued...