CANADA STOCKS-TSX may open mixed after big rally

Fri Jun 26, 2009 8:32am EDT
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TORONTO, June 26 (Reuters) - Toronto's main stock index could open mixed on Friday as firmness in commodity prices boosts some resource companies, but gains could be limited as investors lock in profits after gains in the previous session.

Commodity prices and world stocks rose, while the U.S. dollar and government bond prices slipped Friday, when investors cautiously put money back into riskier assets [MKTS/GLOB]. However, U.S. stock index futures pointed to a weak open on profit taking. [ID:nN26320849]

On Thursday, Toronto's main stock index, the S&P/TSX composite index .GSPTSE, closed 254.92 points, or 2.52 percent higher at 10,355.85.

Here is some news that could affect the market:


Potash Corp of Saskatchewan Inc POT.TOPOT.N, the world's biggest fertilizer producer, slashed its second-quarter earnings forecast Thursday due to substantially lower-than-expected potash sales volumes, and shares fell 7.8 percent in after-hours trading. [ID:nN25293238]


German Economy Minister Karl-Theodor zu Guttenberg said in a newspaper interview on Friday that discussions about troubled car maker Opel International Inc OPL.V remained open but that a solution needed to be found fast. The German government last month brokered a preliminary deal for Magna to take over Opel. [ID:nLQ592139]

OIL STEADY   Continued...