TORONTO, July 13 (Reuters) - Toronto's main stock market index could open lower on Monday, as sliding prices for oil and metals continue to weigh on the resource-heavy market.
World stocks fell with particularly heavy losses in emerging markets, as investors fretted about a coming wave of corporate earnings and confidence in a rapid global economic recovery faded.
U.S. stock index futures were little changed on Monday as caution over the latest earnings season weighed and CIT Group Inc grappled with shoring up its finances, offsetting a broker upgrade of Goldman Sachs.
On Friday the S&P/TSX composite index closed down 26.79 points, or 0.27 percent, at 9,747.13.
Here is some news that could affect the market:
VALE INCO
Union workers at Vale Inco's Sudbury nickel mine in Canada rejected the company's final contract offer and will go on strike at midnight Sunday, the United Steelworkers union said on Saturday.
MAGNA
Belgian holding company RHJ International SA is readying an improved offer for General Motors Corp unit Opel that it hopes to submit this week, two sources familiar with its plans said on Sunday.
AIR CANADA
Flight attendants at Air Canada have voted in favor of a labor agreement with Canada's biggest airline, a union spokeswoman said on Sunday.
OIL
Oil prices slipped below $60 a barrel on Monday, heading towards a seven-week low on concerns over the state of the global economy as stock markets slid.
GOLD, BASE METALS
Gold edged below $910 an ounce in Europe on Monday, with weaker oil prices and a marginally firmer dollar weighing on prices. Most base metals were also lower.
CHRYSLER
Chrysler has reversed a decision to cancel the third shift at its minivan plant in Windsor, Ontario, thanks to rising demand for the vehicles in the second half of the year, the company said on Friday.
ADF GROUP INC
ADF Group Inc. said on Monday it has a contract worth C$77 million in North America's public infrastructure sector.
CANADA RESEARCH
* National Bank cuts Cogeco Cable price target to C$40 from C$45; rating outperform.
* Genuity starts New Flyer Industriess with buy rating; price target of C$11.50.
* Barclays raises Nexen Inc price target to C$25 from C$23; rating equal weight.
For more research, please see:
($1=$1.16 Canadian)
(Reporting by Nina Lex; Editing by Jeffrey Hodgson) Keywords: MARKETS CANADA STOCKS
(nina.lex@thomsonreuters.com; +1 416 941-8098)
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