CANADA STOCKS-Futures indicate higher open after jobs data

Fri Jun 6, 2014 8:57am EDT

(Adds U.S. and Canadian economic data)

June 6 (Reuters) - Canadian stocks looked set to open higher on Friday after U.S. and Canadian jobs data, with June futures on the S&P TSX index <0#SXF:> up 0.23 percent at 0845 ET.

The Canadian economy created a net 25,800 jobs in May - all of them part-time - but shed about 30,000 full-time positions for the second month in a row.

The labor productivity of Canadian businesses unexpectedly dropped by 0.1 percent in the first quarter of 2014, the first decline for 18 months, other data showed.

U.S. employers, meanwhile, maintained a solid pace of hiring during the month, returning employment to its pre-recession level.

The TSX index was little changed on Thursday as a drop in energy and bank shares offset a jump in the gold-mining sector. Gold prices rose after the European Central Bank cut rates to record lows

Dow Jones Industrial Average e-mini futures were up 0.30 percent at 0845 ET, while S&P 500 e-mini futures were up 0.21 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canada is set to buy 65 Lockheed Martin F-35 Joint Strike Fighter jets, sources familiar with the process said, marking a major renewal of Canada's fighter fleet and helping contain costs of the expensive defense program.

Timmins Gold Corp said it had set up a special committee of independent directors to help respond to a proxy fight launched by a major shareholder to take control of the gold miner's board.

Canada is enjoying an unexpected boom in production of ultra-light crude known as condensate, defying long-held predictions of dwindling supply.

COMMODITIES AT 0845 ET

Gold futures : $1,255.6; +0.21 pct

U.S. crude : $102.83; +0.34 pct

Brent crude : $108.97; +0.17 pct

LME 3-month copper : $6,674.00; -1.56 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : National Bank Financial raises rating to outperform from sector perform

Cameco Corp : Canaccord Genuity raises rating to hold from sell

Saputo : CIBC, National Bank Financial raise price target on the stock

Westjet Airlines : National Bank Financial ups to outperform from sector perform

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-farm payrolls for May: Actual +217,000, prior +288,000

0830 Private payrolls for May: Actual +216,000, prior +273,000

0830 Manufacturing payrolls for May: Actual +10,000, prior +12,000

0830 Government payrolls for May: Actual +1,000, prior +15,000

0830 Unemployment rate for May: Actual +6.3 pct, prior +6.3 pct

0830 Average earnings mm for May: Actual +0.2 pct, prior +0.0 pct

0830 Average workweek hours for May: Actual +34.5 hrs, prior +34.5 hrs

1030 ECRI weekly index: Prior +135.4

1030 ECRI weekly annualized: Prior +5.3 pct

1500 Consumer credit for Apr: Expected +15.50 bln, prior +17.53 bln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

($1= $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr)

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