A.M. market numbers: November 26, 2009

| North American markets | International markets | Bonds | Currency | Commodities |

The Toronto stock market is in for a sharply lower opening in line with other global markets amid a new round of worries about the global financial system.

The concern centres around debt problems at Dubai World, a global investment company owned by the government of Dubai.

Sentiment in stocks has been dented by the news that Dubai World, which is thought to have debts totalling around US$60 billion, has asked creditors if it can postpone its forthcoming payments until May. That has stoked fears of a potential default and contagion around the global financial system, particularly in emerging markets.

“Certainly the Dubai debt debacle and the uncertainty that it has created has had a severe knock on effect,” said David Buik, markets analyst at BGC Partners.

Overseas markets were rattled by the development as the Shanghai index tanked 3.6 per cent, Hong Kong’s Hang Seng shed 1.8 per cent while Japan’s Nikkei 225 stock average fell 0.6 per cent.

London’s FTSE 100 index fell 1.86 per cent and Frankfurt’s DAX dropped 1.8 per cent.

U.S. markets were closed for the Thanksgiving holiday.

The Canadian dollar fell 0.83 of a cent to 94.82 cents US.

Commodity prices also moved lower in electronic trading. The January crude contract in New York lost 90 cents to US$77.06 a barrel.

The December gold contract moved down $2.30 from Wednesday’s latest record close to US$1,184.70 while December copper edged three cents lower to US$3.14 a pound.

The Toronto stock market closed up 97 points Wednesday as oil and metal prices shot up and investors took in positive U.S. consumer and housing data.

(The Canadian Press)

North American markets (previous close)

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Dow Jones	10,433.71	-17.24 or -0.16%	+18.88%
S&P 500	1,105.65	-0.59 or -0.05%	+22.41%
NASDAQ	2,169.18	-6.83 or -0.31%	+37.55%
TSX Composite	11,539.63	-84.39 or -0.73%	+28.39%

International markets

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	Open	Change	YTD
Nikkei	9,383.24	-58.40 or -0.62%	+5.91%
Hang Seng	22,210.41	-401.39 or -1.78%	+54.37%
SENSEX	16,854.93	-344.02 or -2.00%	+74.71%
FTSE 100	5,250.21	-114.60 or -2.14%	+18.40%
CAC 40	3,725.09	-84.07 or -2.21%	+15.76%
DAX	5,683.82	-119.20 or -2.05%	+18.16%

Bonds

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Bonds	$ Current	$ Previous	%Yield
Cdn. 10-year bond	104.08	103.83	3.25
Cdn. 30-year bond	119.65	119.42	3.84
U.S. 10-year bond	100.89	100.25	3.27
U.S. 30-year bond	102.34	101.55	4.24

Currency

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BoC Close	Today	Previous
Canadian $	0.9488	0.9564
US $	1.0540	1.0455

Euro Spot Rate	Today	Previous
Canadian $	0.6303	0.6316
Euro	1.5866	1.5833

Commodities

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Gold	AM	PM
London Gold Fix ($US)	$1,183.00	$1,179.75

Oil	Open	Change
WTI Crude Future (US)	$77.03	-$0.93 or -1.19%

(11/26/09)