CANADA STOCKS-TSX could open lower as commodities sag

Mon Jun 15, 2009 8:57am EDT
 
[-] Text [+]

TORONTO, June 15 (Reuters) - Toronto's main stock index could open lower on Monday as weakness in commodity prices keeps the resource-laden market under pressure.

Toronto may trail global equities lower, with strength in the U.S. dollar pressuring commodity prices and related shares [MKTS/GLOB]. U.S. stock index futures also pointed to a lower open.

On Friday, the S&P/TSX composite index .GSPTSE finished down 69.15 points, or 0.65 percent, at 10,644.96. For the week, it rose 0.7 percent.

Here is some news that could affect the market:

URANIUM ONE INC (UUU.TO)

Russian nuclear company Rosatom has secured a 17 percent stake in a Western rival, Canada's Uranium One, gaining another foothold in North America as it pursues an aggressive programme of global expansion.

The cash and stock deal -- worth $385 million -- will give Uranium One 50 percent in Kazakhstan's Karatau uranium mine, which is expected to boost its 2010 output by about 35 percent. For more see [ID:nBNG122370].

SUNLIFE FINANCIAL (SLF.TO)

Sun Life Financial Inc said it is acquiring the UK business of Lincoln National and says the value of the transaction is about C$359 million. [ID:nN15185295]

BOMBARDIER INC (BBDb.TO)

Bombardier Inc releases its annual market forecasts and says it sees continued volatility in the aerospace industry in the near term. [ID:nWNAB9579]

CAE INC (CAE.TO)

CAE Inc wins series of C-130 contracts, which were signed over the past three months and the total value is more than C$115 million. [ID:nWNAB9486]

ADDAX PETROLEUM (AXC.TO)

Shares in Swiss-based oil explorer Addax Petroleum soared on Monday after a fresh report saying China's Sinopec (600028.SS) and Korea National Oil Company planned bids but the state-controlled companies declined comment. [ID:nLF484509]

OIL DROPS  Continued...

 

Featured Broker sponsored link