CANADA STOCKS-TSX may open lower as oil prices flag

Wed Jul 28, 2010 8:59am EDT
 
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July 28 (Reuters) - Toronto's main stock index could open lower on Wednesday as weaker crude oil prices put pressure on energy stocks.

Canadian equity futures pointed to a lower open. <0#SXF:>, even as the Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was up 0.2 percent in early trade.

With no major data on the calendar investors will keep a close eye on corporate results.

On Wall Street, S&P 500 index futures turned negative after an unexpected month-over-month decline in June durable goods orders. [.N]

European shares dropped after rising for six straight sessions, with investors taking profits from recent gains and as weaker crude oil prices putting pressure on energy stocks.

Asian stocks hit a 12-week high, with the Nikkei up 2.7 percent, its highest close and biggest one-day gain in two weeks, on strong corporate earnings at home and abroad as well as a weaker yen.

Here is some news that could affect Canadian stock prices:

OIL SLIPS

Oil slipped towards $77 per barrel on Wednesday after an industry report of an unexpected rise in U.S. crude stocks and a fall in U.S. consumer confidence fuelled doubts about the pace of recovery in energy demand. [O/R]   Continued...