TORONTO (Reuters) - Toronto's main stock market index could open lower on Thursday as weak gold and energy prices constrain the resource-laden market.
The falling commodity prices, coupled with a stronger U.S. dollar, will likely cap the Toronto Stock Exchange's S&P/TSX composite index's gains at four sessions.
The TSX finished higher on Wednesday, closing at 11,652.69, following early buying that sent the index to a 13-month high. [nN18132612]
Investors will also take time to digest a slew of Canadian data including wholesale trade and leading indicators due out before the market open.
Here is some of the news that may affect the market:
U.S. CRUDE LOWER
U.S. crude futures drifted lower to below $79 a barrel on Thursday as gains in the dollar weighed on prices and doubts about the pace of demand recovery in the United States dampened sentiment.
GOLD RETREATS
Gold prices retreated on Thursday from the record high above $1,150 an ounce reached the previous session, reacting to a rise in the dollar as investors took profits in higher-yielding currencies.
CANADA'S ECONOMY
Canada's economy has not yet recovered from recession so the government will follow through on the second phase of stimulus spending next year, Finance Minister Jim Flaherty said on Wednesday.
CF INDUSTRIES
About 62 percent of CF Industries' shares have been tendered in favor of Agrium Inc's hostile takeover bid, according to a source familiar with the matter, but a different vote later in the week is more likely to determine the outcome of the drawn-out takeover battle.
MANULIFE FINANCIAL
Canada's top life insurer Manulife Financial Corp said late on Wednesday it planned to issue C$2.5 billion ($2.4 billion) in equity and reach the fortress level of capital it has sought all year.
AGNICO EAGLE
Canada's Agnico Eagle mining company has started work at its Pinos Altos gold and silver project in northern Mexico with an investment of $240 million, Mexico's economy ministry said on Wednesday.
TELUS SUES ROGERS COMMUNICATION
Telus Corp, Canada's No. 2 phone company, sued Rogers Communications Inc for allegedly misleading Canadians with advertising that claims Rogers' wireless network is the fastest and most reliable in the country.
TRANSCANADA CORP
TransCanada Corp, the country's largest pipeline company, said on Wednesday it expects to increase tolls sharply next year on its main natural gas system from Western Canada.
(Reporting by Scott Anderson; Editing by Padraic Cassidy)
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