CANADA STOCKS-TSX may rise on commodities, data eyed
TORONTO, March 30 (Reuters) - Canada's main stock market index may open higher on Tuesday as firm resource prices and a purchase in the domestic telephone directory sector puts investors in a buying mood.
But gains could be limited as investors could remain cautious ahead of upcoming U.S. housing and consumer confidence data that could show that the economy was stabilizing.
Toronto's main stock index closed higher on Monday for the first time in four sessions, jumping back above the 12,000 mark as commodity prices rallied on U.S. dollar weakness, propping up the market's heavyweight resource shares.[ID:nN29106344]
Here is some news that could affect stock prices:
Yellow Media Inc, a subsidiary of Yellow Pages Income Fund YLO_u.TO, said it agreed to buy local search and directories publisher Canadian Phone Directories Holdings Inc (Canpages) for about C$225 million ($220.6 million).[ID:nSGE62T0D9]
IRON ORE PRICES
Vale (VALE5.SA: Quote) (VALE.N: Quote) and BHP Billiton (BHP.AX: Quote)(BLT.L: Quote) will sell Japanese steelmakers iron ore priced quarterly from April 1, signaling the demise of annual fixed-price contracts that were costing miners billions of dollars in lost revenue as spot prices rocket.[ID:nSGE62T02E]
U.S. DATA Continued...