CANADA STOCKS-TSX may open lower on weak commodity prices

Wed Jul 29, 2009 9:06am EDT
 
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TORONTO, July 29 (Reuters) - Toronto's main stock market index could open lower on Wednesday, as weaker oil and metals prices could weigh on the resource-heavy market.

U.S. stock index futures slipped as investors paused to gauge if the recent market run-up will be sustained, while a drop in commodity prices looked set to weigh on shares of natural resource companies.[ID:nN29235181]

On Tuesday the S&P/TSX composite index .GSPTSE closed down 186.89 points, or 1.74 percent, at 10,570.54.

Here is some news that could affect the market:

NORTEL NETWORKS NRTLQ.PK

The $1.13 billion sale of Nortel Networks'prized wireless assets to Swedish telecoms equipment maker Ericsson (ERICb.ST: Quote) received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process. [ID:nN28183608]

ENBRIDGE INC (ENB.TO: Quote)

Enbridge Inc said on Wednesday its quarterly profit fell from last year, when it benefited from a huge gain on the sale of its stake in a Spanish pipeline. [ID:nN29246595]

JAZZ AIR INCOME FUND JAZ_u.TO   Continued...