LATEST : Oil rises towards $69 as dollar dips and ahead of stocks data

SINGAPORE (Reuters) - Oil rose toward $69 a barrel on Tuesday, snapping two days of falls, on a weaker U.S. dollar and ahead of weekly stocks data forecast to show a fall in U.S. crude inventories.
The dollar took a breather on Tuesday after rallying in the wake of last week's U.S. jobs data, which stirred talk that the Federal Reserve may raise interest rates later this year.
U.S. light crude for July delivery rose 52 cents to $68.61 a barrel by 0206 GMT, having settled 35 cents lower on Monday at $68.09, more than $2 below a seven-month high above $70 touched on Friday.
London Brent crude was up 52 cents at $68.40. "The currency market has been driving the oil market since the middle of May. Traders are looking more at the dollar than at equity markets now," said Tetsu Emori, fund manager at Tokyo-based Astmax Co Ltd.
"It is quite difficult to take positions above $70 for now. It is too risky," he added.
Oil prices have more than doubled since the lows of this winter, tracking stronger equities markets, with the S&P 500 index rallying 39 percent since sliding to a 1-year closing low on March 9.
Hopes for a global economic recovery have also sustained the current price rally, and the world's top oil forecasters are likely to paint a slightly more bullish outlook in their monthly market reports this week, suggesting oil demand could bottom out and inventories start falling in the next few months.
Nobuo Tanaka, executive director of the International Energy Agency (IEA), adviser to 28 industrialized countries, told Reuters on Monday the agency expects oil stocks in the developed OECD economies to fall to 57 days by year-end from the current 63 days, if OPEC's output continues at current levels and demand recovers.
More market direction could emerge later on Tuesday as industry group the American Petroleum Institute releases its weekly U.S. inventory data at 2030 GMT, to be followed by U.S. Energy Information Administration data on Wednesday.
Analysts polled by Reuters said they expect crude stocks to have fallen by 400,000 barrels last week, while distillate and gasoline stocks could have risen by 1.2 and 1.3 million barrels respectively.
Last week, U.S. crude oil stocks rose by a more-than-expected 2.9 million barrels

Most actively traded companies on Canadian stock markets

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange:

Toronto Stock Exchange (10,588.79 down 15.27 points):

Uranium One Inc. (TSX:UUU). Miner. Down 29 cents, or 13.74 per cent, to $1.82 on 30,272,324 shares. The stock has been heavily traded since late last week after reports came out suggesting the Toronto-based company's joint venture in Kazakhstan may be under investigation by authorities.

Connacher Oil and Gas Ltd. (TSX:CLL). Oil and gas. Down six cents, or 5.26 per cent, to $1.08 on 11,834,788 shares. The energy subgroup on the TSX led the losers as the price of light, sweet crude oil dipped three cents US to close at $68.55 on the New York Mercantile Exchange.

Azure Dynamics Corp. (TSX:AZD). Hybrid electric and electric powertrains. Down seven cents, or 21.21 per cent, to 26 cents on 9,520,746 shares. The Oak Park, Mich.-based company nailed a partnership deal with Champion Bus, which will offer an Azure hybrid electric drivetrain as an option in Ford E-450 shuttle buses.

Eastern Platinum Ltd. (TSX:ELR). Miner. Up three cents, or 5.17 per cent, to 61 cents on 9,252,960 shares.

Teck Resources (TSX:TCK.B). Miner. Up six cents, or 0.32 per cent, to $18.71 on 8,006,189 shares.

Bombardier (TSX:BBD.B). Transportation equipment. Down eight cents, or 2.03 per cent, to $3.87 on 7,720,130 shares.

TSX Venture Exchange (1,141.74 up 1.19 points):

Gold Wheaton Gold Corp. (TSXV:GLW). Miner. Up five cents, or 19.61 per cent, to 30.5 cents on 21,698,200 shares.

Stem Cell Therapeutics Corp. (TSXV:SSS). Drugmaker. Up three cents, or 33.33 per cent, to 12 cents on 7,486,624 shares.

Companies reporting major news:

Brick Brewing Co. Ltd. (TSX:BRB). Beermaker. Up a penny, or 1.54 per cent, to 66 cents on 15,700 shares after the founder of the small Ontario beermaker has been sued by his former company for alleged "wrongs" against the corporation over several years.

Domtar Corp. (TSX:UFS). Paper giant. Up three cents, or 2.08 per cent, to $1.47 on 320,090 shares on news its board has authorized the implementation of a reverse stock split at a one-for-12 ratio of its outstanding common stock.

Magna International Inc. (TSX:MG.A). Auto parts conglomerate. Down 91 cents, or 2.55 per cent, to $34.80 on 351,165 shares as chairman Frank Stronach says he expects the company's newly acquired Opel unit in Germany to break even in three years and turn a profit in four years.

CAPIATL MARKETS

The capital markets consist of the primary market and the secondary market. The primary markets are where new stock and bonds issues are sold (underwriting) to investors. The secondary markets are where existing securities are sold and bought from one investor or speculator to another, usually on an exchange (e.g. the New York Stock Exchange).

Question: What are Capital Markets?

Answer:
Capital Market Resources
A capital market is simply any market where a government or a company (usually a corporation) can raise money (capital) to fund their operations and long term investment. Selling bonds and selling stock are two ways to generate capital, thus bond markets and stock markets (such as the Dow Jones) are considered capital markets. Introduction to Capital Markets
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