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: Quote) 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 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 hits four-day winning streak for the first time since mid-June. [ID:nN26354143]


Genuity cut the price target on BCE (BCE.TO: Quote) 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...