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TSX to Open Lower As Commodities Tumble

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Canada's benchmark index looks set to open lower on Monday, dragged down by the weakness in commodity prices. Stock futures for the June quarter on the S&P TSX index were down 0.3% recently.

The dollar rebounded on Monday after Japan's finance minister reportedly said the government is ready to step in if the yen hurts the Japanese economy. At last check, gold was down 1.5% at US$1,274.80/ounce, while Brent slipped 0.5% to US$45.15/barrel.

The TSX closed up by 69 points on Friday but was down by 1.8% the whole trading week last week. According to BMO Research, TSX sectors were mixed, with a steep drop in health care (-6.2%), energy (-4.4%), and financials (-2.2%).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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