CANADA STOCKS-TSX may open higher as commodities gain

Mon Jul 27, 2009 8:51am EDT
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TORONTO, July 27 (Reuters) - Toronto's main stock market index could open higher on Monday, following a rise in global equity markets, as firmer oil and metal prices could boost the resource-heavy index.

World stocks rose to 9-month highs and the euro hit a 7-week high versus the dollar as a recent run of strong corporate earnings and anticipation of more boosted optimism for a global economic recovery. [ID:nLR734448]

But U.S. stock index futures turned negative on Monday following quarterly results from telecommunications company Verizon Communications Inc VZ.N, a Dow component. [ID:nN27447978]

On Friday the S&P/TSX composite index .GSPTSE closed up 12.22 points, or 0.11 percent, at 10,687.90.

Here is some news that could affect the market:


Sweden's Ericsson ERICb.ST has won an auction for the wireless assets of bankrupt Nortel Networks Corp, paying $1.13 billion for the crown jewels of the one-time Canadian telecom star. [ID:nN25483564]


BlackBerry maker RIM, which had complained it was shut out of the bidding for Nortel wireless assets, said it and T-Mobile USA were introducing the new BlackBerry Curve 8520. [ID:nWNBB3098]   Continued...