TSX futures turn slightly higher after jobs data

Fri Apr 4, 2014 9:08am EDT

(Adds U.S. and Canadian economic data)

April 4 (Reuters) - Positive Canadian jobs data pushed stock index futures higher even as March U.S. payroll numbers came in modestly below expectations.

Canada added 42,900 jobs in March, twice as many as expected, led by gains in part-time work and in the public sector, Statistics Canada data indicated on Friday.

June futures on the S&P TSX index <0#SXF:> were up 0.18 percent at 08:45 ET.

Canada's main stock index fell on Thursday as sluggish U.S. economic data increased investor anxiety ahead of an upcoming jobs report and a drop in bullion hurt gold-mining shares.

Dow Jones Industrial Average futures were up 0.32 percent, S&P 500 futures were up 0.35 percent and Nasdaq 100 futures were up 0.57 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

U.S. nonfarm payrolls increased by 192,000 new jobs last month after rising 197,000 in February, the Labor Department said on Friday. Economists polled by Reuters had expected employment to increase 200,000 in March.

Air Canada on Thursday said it expects higher first-quarter earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent due to system-wide traffic growth and capacity increase.

A lack of comprehensive data on Canada's housing sector poses risks to the country's hot real estate market by restricting information that could help investors make sound decisions, according to a prominent Canadian economist.

As a decision nears on naming the Bank of Canada's new No. 2 policymaker, one of two vacancies on its key rate-setting committee, analysts say the bank should tap internal talent for at least one of the jobs instead of looking outside.

COMMODITIES AT 0845 ET

Gold futures : $1,295.4; +0.86 pct

US crude : $101.1; +0.81 pct

Brent crude : $106.6; +0.42 pct

LME 3-month copper : $6,689; +0.7 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : Canaccord Genuity raises target to C$10.50 from C$10.25

Hudson's Bay Co : Canaccord Genuity, Credit Suisse cut target price

U.S. ECONOMIC DATA ON FRIDAY

08:30 Non-Farm Payrolls for March: Actual 192,000 Revised 197,000

08:30 Private Payrolls for March: Actual 192,000 Revised 188,000

08:30 Manufacturing Payrolls for March: Actual -1,000 Revised 19,000

08:30 Government Payrolls for March: Revised 9,000

08:30 Unemployment Rate for March: Actual 6.7 pct Prior 6.7 pct

10:30 ECRI Weekly Index for w/e: Prior 133.5

10:30 ECRI Weekly Annualized for w/e: Prior 2.9 pct

FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

($1= $1.11 Canadian) (Reporting By Pronita Naidu; Editing by Saumyadeb Chakrabarty)

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