CANADA STOCKS-TSX futures turn positive

Fri Aug 8, 2014 8:59am EDT

(Adds U.S. and Canadian economic data)

Aug 8 (Reuters) - Canadian stocks were poised to open higher on Friday, with September futures on the S&P TSX index <0#SXF:> holding on to gains posted just before the release of key U.S. and Canadian economic data that suggested interest rates will stay low.

Canada's economy created just 200 jobs on a net basis in July, far fewer than analysts had expected.

U.S. nonfarm productivity, meanwhile, rebounded more strongly than expected in the second quarter, but a slowdown in unit labor costs pointed to still-tame wage pressures that could give the Federal Reserve room to keep rates low.

September TSX futures were up 0.08 percent at 0845 ET.

The index dropped on Thursday as worries about the escalating crisis in Ukraine fueled declines in most major sectors.

Dow Jones Industrial Average e-mini futures were up 0.18 percent at 0845 ET, while S&P 500 e-mini futures were up 0.29 percent. Nasdaq 100 e-mini futures were up 0.20 percent.

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

TOP STORIES

Auto parts maker Magna International Inc reported a higher-than-expected rise in quarterly profit and raised its full-year sales forecast, helped by strong demand in North America and continued recovery in Europe.

TMX Group Ltd, the operator of the Toronto Stock Exchange and the TSX Venture Exchange, said it plans to launch a new business to allow capital raising and the trading of securities of privately owned entities.

Tekmira Pharmaceutical Corp said the U.S. Food and Drug Administration had modified its clinical hold status on Tekmira's experimental Ebola treatment to enable its potential use in humans infected with the virus.

COMMODITIES AT 0845 ET

Gold futures : $1,306.0; -0.37 pct

US crude : $97.55; +0.22 pct

Brent crude : $105.83; +0.37 pct

LME 3-month copper : $6,983.75; -0.22 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : Canaccord Genuity raises target price to C$13 from C$12

Newalta, Stantec, others: Canaccord Genuity raises target price

IGM Financial, Avigilon, others: NBF cuts price target

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Labor costs for Q2: Actual +0.6 pct, prior +5.7 pct

0830 Productivity for Q2: Actual +2.5 pct, prior -3.2 pct

1000 Wholesale inventories mm for June: Expected +0.6 pct, prior +0.5 pct

1000 Wholesale sales mm for June: Expected +0.5pct, prior +0.7 pct

1030 ECRI weekly index: Prior +135.5

1030 ECRI weekly annualized: Prior +4.1 pct

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=$1.10 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr)