CANADA STOCKS-TSX may open lower on commodities, Greece fears

Wed May 5, 2010 8:56am EDT
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May 5 (Reuters) - Toronto's main stock index could open lower on Wednesday as commodity prices tumbled while Germany and the IMF warned of financial contagion unless a euro zone debt crisis is stopped in Greece.

Wall Street is also set for a lower start ahead of ADP employment and ISM non-manufacturing reports. [.N]

European shares fell as banking stocks remained under pressure. However, forecast-beating results from Societe Generale SOGN.PA and brewer Anheuser-Busch InBev ABI.BR provided some support.

Asian markets mostly dropped, although China bucked the trend, managing a technical bounce from seven-month lows hit earlier in the session, while Japan remained closed.

Here is some news that could affect Canadian stock prices:


Oil fell 1.5 percent towards $82 a barrel, extending the steepest one-day loss in three months as the unfolding crisis in Greece rattled markets and mounting U.S. crude oil inventories pointed to soft demand. [O/R]


Copper prices slid to their lowest in nearly three months as fears of contagion from Greece and worries about Chinese demand prompted investors to retreat from industrial metals. [MET/L]   Continued...