CANADA STOCKS-Toronto stocks index set to fall as oil eases

Thu Nov 27, 2008 8:38am EST
 
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TORONTO Nov 27 (Reuters) - The Toronto Stock Exchange's main index is seen falling on Thursday as commodity prices take a breather from recent gains.

With U.S. markets closed for the Thanksgiving holiday, trading volume is expected to be muted and may cause dramatic swings. Elsewhere, global stocks hit two-week highs, but there was no shortage of bleak news in Europe. [MKTS/GLOB]

Toronto's main index rose for the fourth straight session on Wednesday as strength in commodities overcome a steep drop in shares of BCE Inc BCE.TO after the telecommunications giant said its leveraged buyout deal was in doubt.

Here is some of the news that may affect the market on Thursday.

OIL FALLS, GOLD STEADY

Oil fell to around $53 a barrel as a holiday weekend in the United States and an upcoming OPEC consultative meeting limited trade. [ID:nSP350327] Gold was little changed in Europe. [ID:nLR122834]

* See also: Toronto's energy index .SPTTEN hits four-day winning streak for the first time since mid-June. [ID:nN26354143]

BCE AFTERMATH

Genuity cut the price target on BCE BCE.TO as the C$34.8 billion leveraged buyout of the Canadian telecom giant -- the world's largest deal of its kind -- stands on the brink of collapse.   Continued...