TSX May Start Lower on Global Growth Concerns
Canada's benchmark index looked set to open lower on Thursday, dragged down by concerns over the health of the global economy.
In commodities, oil prices edged higher, which could benefit energy stocks. Traders mulled the impact of weak economic data while supplies are tight due to production cuts from OPEC and Russia and sanctions on Venezuela and Iran while Libyan supply is at threat from turmoil in the country. Conversely, gold edged down on a rise in the US dollar and a higher open on US stock markets.
In stocks, all eyes will be on Barrick Gold (ABX.TO), which reported quarterly production results, on TransAlta (TA.TO), which announced the withdrawal by Mangrove Partners of its request for hearing on the Brookfield transaction, and on Rogers Communications (RCI-B.TO), which reported lower-than-expected Q1 earnings.
The TSX gained 42 points on Wednesday, with energy stocks leading the advance.
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