CANADA STOCKS-TSX may open lower after soft North American jobs data

Fri Jan 10, 2014 8:40am EST

Jan 10 (Reuters) - Canadian stock index futures pointed to a lower open on Friday following the release of weaker-than-expected U.S. and Canadian employment data.

TOP STORIES

* U.S. employers hired the fewest workers in almost three years in December, but the setback was likely to be temporary amid signs that cold weather conditions might have had an impact.

* Canada's economy unexpectedly shed 45,900 jobs in December as a result of less full-time work and layoffs across a broad range of sectors, Statistics Canada data indicated on Friday.

* China's export growth slowed more than expected in December due to a higher comparison base a year earlier and a clamp-down on speculative activities disguised as export deals, missing the official target on foreign trade.

* Alcoa Inc reported a massive quarterly loss on Thursday after recent declines in aluminum prices led to a $1.7 billion non-cash impairment charge on smelter acquisitions.

* Infosys Ltd, India's second-largest software services exporter, posted a 21 percent rise in quarterly net profit, beating estimates, as stronger economic growth in Europe and the United States revived demand for outsourcing services.

MARKET SNAPSHOT

* Canada stock futures traded lower

* U.S. stock futures , , were lower

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 273.6274; rose 0.27 percent

* Gold futures : $1,234; rose 0.38 percent

* US crude : $92.62; rose 1.05 percent

* Brent crude : $106.84; rose 0.42 percent

* LME 3-month copper : $7,250; rose 0.51 percent

ANALYSTS' RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* CAE Inc : BMO raises price target to C$15 from C$13.50 after it reported strong orders in fiscal third-quarter of 2014 in both the commercial aviation and military segments

* Le Groupe Jean Coutu PJC Inc : CIBC raises price target to C$19.50 from C$18 as the company's third-quarter results showed weak sales but strong margins

* Nordion Inc : CIBC raises price target to C$10.25 from C$9.25 as the company reported relatively in-line fourth-quarter results

* Sandvine Corp : CIBC raises price target to C$4.50 from C$3 following the company's fourth-quarter results with record amount of wireless customers

ON THE CALENDAR

* Major Canadian economic data includes employment data

* Major U.S. events and data includes nonfarm payrolls, wholesale inventories and ECRI weekly index

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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