CANADA STOCKS-TSX may open higher on steady commodities

Thu Jul 30, 2009 8:29am EDT
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TORONTO, July 30 (Reuters) - Toronto's main stock market index could open higher on Thursday, following a rise in global equity markets, as steady oil and metal prices may boost the resource-heavy index.

World stocks and commodity prices rose after China's central bank reaffirmed its commitment to "appropriately loose" monetary policy and European company earnings cheered investors. [ID:nLU387161]

U.S. stock index futures rose following another string of stronger-than-expected quarterly corporate profits, including results from Visa Inc, and fresh indications that the global economic downturn is easing. [ID:nN30527713]

On Wednesday the S&P/TSX composite index .GSPTSE closed down 115.21 points, or 1.1 percent, at 10,455.33.

Here is some news that could affect the market:


Petro-Canada, whose C$22.5 billion ($20.70 billion) acquisition by Suncor Energy Inc SU.TO is expected to close on Saturday, said on Thursday its second-quarter operating profit fell 91 percent as oil prices tumbled.[ID:nN29275329]


Barrick Gold earns C$492 million (C$0.56 per share), cash flow rises 42 percent to C$718 million. [ID:nWNBB5893]   Continued...