CANADA STOCKS-TSX may open lower on European growth worries

Thu May 20, 2010 9:07am EDT
 
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May 20 (Reuters) - Toronto's main stock index could open lower on Thursday on concern that austerity policies needed to pull fiscally weak EU countries into line will damp European and world growth.

On the calendar, Canada's index of leading indicators is due, and is expected to show a 0.8 percent rise, compared with a gain of 1 percent the previous month, according to a Reuters poll.

U.S. stock index futures were down, while European stocks fell on persistent concerns that other European countries may follow Germany in curbs on short-selling of some financial instruments.

Asian markets dropped sharply for the second straight day and are heading towards their worst weekly performance since November 2008.

Here is some news that could affect Toronto stock prices:

OIL FALLS

Oil fell to near $69 a barrel on Thursday after hitting the lowest since September the previous session as concerns about the impact of the European fiscal crisis on fuel demand weighed on sentiment. [O/R]

COPPER RISES

Copper rose on Thursday in a technical bounce after heavy selling in recent sessions, but the metal remained vulnerable overall due to ongoing worries over Europe's debt crisis and its impact on growth. [MET/L]   Continued...