November 27, 2009 / 1:43 PM / 8 years ago

CANADA STOCKS-TSX seen falling as Dubai fears, commodities drag

 TORONTO, Nov 27 (Reuters) - Toronto’s main stock index is expected to open lower on Friday as pressures on commodity prices stemming from debt concerns in Dubai weigh for a second straight session.
 U.S. stock index futures were also sharply lower, a day after markets were shut for the U.S. Thanksgiving holiday. Volume may be thin in both markets as the U.S. session is shortened, and may exacerbate movements on the market.
 The S&P/TSX composite index .GSPTSE finished down 200.10 points, or 1.72 percent, at 11,436.80 on Thursday, as debt concerns in Dubai and job cuts at two of Canada’s best-known companies heightened anxiety about the stability of the economic recovery.
 Here is some of the news that may affect the market.
 DUBAI
 Dubai struggled to ease fears about a potential debt default after its move to delay repayments at two flagship firms shook confidence in the Middle East as a centre for investment and a source of capital. [ID:nGEE5AQ085]
 COMMODITIES
 Gold prices tumbled nearly 5 percent to a one-week low below $1,140 an ounce as investors fearing debt default in Dubai sought safety in dollars and cash. Other precious metals also slipped. [GOL]
 Oil prices sank to six-week lows below $75 a barrel. [O/R]
 * See also: Proposed Canadian law would police miners abroad [ID:nN25360229]
 BLACK FRIDAY
 Market players will try to gauge U.S. consumer spending on “Black Friday,” the day after U.S. Thanksgiving, which is often the single busiest shopping day of the crucial holiday season with many retailers offering big sales. Consumer spending accounts for about 70 percent of the U.S. economy. [ID:nN26200289]
 RESEARCH ROUNDUP
 Following is a summary of research actions on Canadian companies reported by Reuters on Friday. [RCH/CA]
 * Scotia raises Alimentation Couche Tard (ATDb.TO) price target
 * RBC cuts AltaGas Income Trust ALA_u.TO to sector perform from outperform
 ($1=$1.07 Canadian)
 (Reporting by Ka Yan Ng, Editing by Chizu Nomiyama)  ((kayan.ng@thomsonreuters.com; Reuters Messaging: kayan.ng.reuters.com@reuters.net; 416-941-8109)) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report..........[.TO] Canadian dollar and bonds report....[CAD/][CA/] Top News: Canada ......[TOP/CAN] Today in Canada.......[CA/DIARY] Canadian company news .. [E-CAN] Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA] FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide.......<CA/EQUITY> S&P/TSX Composite index ...............GSPTSE S&P/TSE Venture composite index .......SPCDNX TSX most active..........AV.TO Venture Exchange most active.............AV.V Top TSX pct gainers......PG.TO Top TSX pct losers.......PL.TO S&P/TSX 60 index ........TSE60 52 week highs:
 TSX...............t.YH.TO  Venture..............t.YH.V 52 week lows:
 TSX...............t.YL.TO  Venture..............t.YL.V Canadian dollar quote......CAD=CAD=D3=CAD FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS:   FTSE EUROTOP 300 ......FTEU3  EUROPEAN REPORT .......[.EU]   Nikkei 225..............N225  Tokyo report............[.T]   FTSE 100................FTSE  London report...........[.L]   Xetra DAX..............GDAXI  Frankfurt market stories[.F]   CAC-40...FCHI  Paris market stories...[.PA]   World Indices.......<0#.INDEX>   Foreign exchange........[FRX/]   Oil.......[O/R]   US Treasuries............[US/]   International bonds.....[EUB/]   Gold.........[GOL/X] or [GOL/]   CRB index of commodity futures.........[CRB/] 

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