CANADA STOCKS-TSX may rise on record gold, data eyed

Wed Nov 25, 2009 7:54am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

TORONTO Nov 25 (Reuters) - Toronto's main stock market could open higher on Wednesday as record gold prices and firm U.S. crude buoys the resource-laden index.

Meanwhile, investors will also take time to digest a plethora of U.S. data, including weekly jobless claims and durable goods orders, ahead of the U.S. Thanksgiving holiday.

Toronto's main stock index fell on Tuesday, pulled lower by weakness in energy and metals producers, and weighed down by data showing a slow economic recovery in the United States. [nN24257722]

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

RECORD GOLD PRICE

Gold prices hit record highs at $1,180.00 an ounce in Europe on Wednesday, boosted by a report that India may consider buying more bullion from the International Monetary Fund, and the U.S. weaker dollar. [nGEE5AO0VV]

OIL SURGES

Oil rose above $76 a barrel on Wednesday as the dollar weakened and investors awaited a report on U.S. inventories that was expected to show rising crude stockpiles and lower distillate supplies. [nGEE5AO0YD]

CANADIAN DOLLAR   Continued...