CANADA STOCKS-Toronto index may fall as commodities sag
TORONTO Aug 31 (Reuters) - Toronto's main stock market index could open lower on Monday, pressured by weak commodity prices and as global equities dropped on persistent concerns about the pace of economic recovery.
Global stocks fell on Monday, dragged down by a six percent tumble in China, a recent barometer of economic health swaying other stock markets. [MKTS/GLOB] U.S. stock index futures pointed to a lower open. [ID:nN31427833]
On Friday, the S&P/TSX composite index .GSPTSE closed up 44.01 points, or 0.4 percent, at 10,977.97, as the index see-sawed but managed to eke out a gain on commodity strength.
Here is some news that could affect the market:
Oil fell more than 2 percent to around $71 a barrel on Monday as a drop in China's key stock index stoked worries about the pace of economic recovery and a revival in energy demand. [ID:nSYD487149]
Gold held near $955 an ounce, mirroring the largely rangebound dollar index, with softer oil prices reducing interest in the metal as an inflation hedge. [ID:nLV111673]
BASE METALS Continued...