CANADA STOCKS-TSX could open higher on firm oil, metals

Tue Jun 30, 2009 8:45am EDT
 
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TORONTO, June 30 (Reuters) -Toronto's main stock index could climb at the open on Tuesday, lifted by firm commodity prices and as investors continue to bid the market higher on optimism the world economy is stabilizing.

The MSCI world equity index .MIWD00000PUS looked set on Tuesday to log its best quarterly gain since its 1988 launch and crude oil prices were on course for their strongest quarter in 19 years. [MKTS/GLOB]

U.S. stock futures were modestly higher ahead of a batch of new data that may give investors insight into the state of the recession-hit economy on the last day of the second quarter.[ID:nN30425977]

On Monday the S&P/TSX composite index .GSPTSE rose 87.01 points, or 0.84 percent, to 10,476.77.

Here is some news that could affect the market:

GENERAL MOTORS CORP GMGMQ.PK, MAGNA MGa.TO

Belgium-based RHJ International RHJI.BR is close to a deal to buy a stake in Opel after talks between parent General Motors and preferred bidder Magna International hit snags, the Financial Times reported. [ID:nLU10757]

CANADA PENSION PLAN INVESTMENT BOARD

Shareholders in Australian investment firm Macquarie Communications Infrastructure Group MCG.AX on Tuesday voted in favour of a $1.3 billion takeover offer from the Canada Pension Plan Investment Board (CPPIB). [ID:nSYD397051]   Continued...