CANADA STOCKS-TSX may open lower as oil prices fall

Mon Sep 28, 2009 8:57am EDT
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TORONTO, Sept 28 (Reuters) - Toronto's main stock market could open lower on Monday as falling oil prices weigh on the resource-heavy market and investors wait for the Canadian government to release its quarterly economic report card.

But steady gold prices and an increase in global merger and acquisition activity, which has boosted investor sentiment, could offset some of the weakness.

Toronto's main stock index dropped on Friday, finishing the week 2 percent lower, after investors punished Research In Motion RIM.TO for an outlook that raised concerns about the BlackBerry maker's growth prospects.

Here is some of the news that could affect the market:


Oil fell below $66 a barrel on Monday, extending last week's 8.4 percent drop, as investors focused on high inventories and sluggish demand, shrugging off tension between Iran and the West. [O/R]


Gold was steady on Monday after briefly falling below $990 an ounce, as the euro trimmed some losses versus the dollar, but bullion looked vulnerable to a long liquidation after it failed to stay above $1,000 an ounce. [GOL/]