September 30, 2008 / 12:52 PM / in 9 years

CANADA STOCKS - Factors to watch on Sept 30

TORONTO, Sept 30 (Reuters) - Canada’s S&P/TSX composite index .GSPTSE may get a breather on Tuesday, after logging its biggest one-day percent tumble in nearly eight years as oil firmed and investors hoped a deal over the $700 billion U.S. bailout for the financial industry would come soon.

The main Toronto index fell 840.93 points, or 6.93 percent on Monday. The Dow Jones index was down 778 points, or 7 percent.

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

BREAK FROM BAILOUT

The Senate returns on Wednesday and the House on Thursday after a break for the Jewish New Year holiday. For links to stories, see [ID:nN30410538]

ECONOMIC DATA

Canadian gross domestic product rose steeply in July. [ID:nN30397290], and industrial product prices and raw materials prices fell in August [ID:nN30397459].

CRISIS MEETING REJECTED

Prime Minister Stephen Harper rejected a plea by NDP leader, Jack Layton, for an emergency, all-party meeting on the global financial crisis, saying discussions should take place during public debates this week. [ID:nN29404400]

MANULIFE FINANCIAL (MFC.TO)

Manulife Financial says it has about $600 million in exposure to U.S. regional bank Wachovia Corp WB.N, which announced divestitures to Citigroup Inc (C.N). [ID:nN29309901]

DEXIA RESCUE

Belgian-Dutch bank Dexia (DEXI.BR) gets a $9.2 billion public boost in a bid to raise capital and attempt to restore confidence, a day after the rescue of Fortis FOR.BR. [ID:nLU273284]

FORZANI GROUP LTD FGL.TO

Several firms adjust their price targets for Forzani Group Ltd, Canada’s biggest sporting goods retailer, after the company reported back to school results late on Monday. [ID:nBNG349419]

BOMBARDIER INC (BBDb.TO)

Versant Partners cuts Bombardier Inc price target to $7.50 from C$9.75 to reflect increased concerns over health of business jet market. [ID:nWNAS2623]

KIDD OPERATIONS

Unionized workers at Xstrata Plc’s XTA.L Kidd metallurgical operations in northern Ontario look set to strike after contract talks broke off on Monday. [ID:nN29395182]

PETAQUILLA COPPER PTC.TO

Petaquilla Copper Ltd PTC.TO announces changes to its board of director and says John Sanders is appointed the company’s president and chief executive. [ID:nWNAB3883]

OIL CLc1 RISES TO $98

Oil rose to $98 a barrel after diving nearly 10 percent in the previous session after U.S. lawmakers rejected the big financial rescue plan, heightening demand fears. [ID:nSP246010]

GOLD SLIPS, BASE METALS DOWN

The price of bullion slipped below $900 an ounce as the U.S. dollar firmed and on profit-taking. [ID:nLU150945] Recession worries knocked down base metals. [ID:nLU719429] ($1=$1.05 Canadian) (Reporting by Jennifer Kwan)

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