TSX May Start Higher As Commodity Prices Rise

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Canada's benchmark index looked set to open higher on Thursday, lifted by rising precious metal and oil prices .

Action Economics said front-month WTI crude prices were advancing, partially recouping the sharp 4.6% decline crude prices saw on Wednesday after news of reopening supply out of Libya. Crude prices remained up by 6.5% on the month-on-month comparison and up 17.5% on the year-to-date.

Gold, silver, and copper were also in the green, as the dollar moved slightly lower after the cooler headline CPI and lower jobless claims results.

The TSX suffered a triple-digit decline on Wednesday, shedding 131 points, with material stocks leading the fall.

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