TORONTO, Aug 7 (Reuters) - Toronto's main stock market
index could open lower on Friday, as worse-than-expected
Canadian jobs data dims hopes for a quick economic recovery.
Key data on the state of U.S. joblessness loomed over
global financial markets, pushing equities lower and weakening
support for the dollar. [ID:nL733418]
U.S. stock index U.S. stock index futures were lower as
investors braced for key monthly jobs data for clues on the
direction of the economy and the sustainability of a recent
run-up. [ID:nN07378059]
On Thursday the S&P/TSX composite index .GSPTSE
closed down 253.56 points, or 2.3 percent, at 10,793.37,
Here is some news that could affect the market:
CANADA JOBS
More Canadians lost their jobs in July than expected as
employers continued to cut workers even though the economy is
believed to be on the mend after its worst recession since the
early 1990s. [ID:nN07253705]
MANULIFE (MFC.TO)
The head of Canada's largest insurance company said on
Thursday that acquisitions remain very realistic even though
the company cut its dividend in a bid to build "fortress
levels" of capital.[ID:nN06351995]
MAGNA (MGa.TO)
Canadian auto parts company Magna International Inc, one of
the two bidders vying to buy carmaker Opel from General Motors,
on Friday reported a second quarter loss, hurt by steep
declines in global auto production. [ID:nBNG400879]
TECK RESOURCES (TCKb.TO)
Teck Resources will sell its majority interest in the
Morelos gold project in Mexico for just over $150 million in
cash and stock to junior-listed Gleichen Resources (GRL.V), the
companies said on Thursday. [ID:nN06351957]
BC OFFER ENERGY INDUSTRY ROYALTY
British Columbia, the site of some of North America's most
promising shale gas plays, offered the energy industry royalty
and regulatory breaks on Thursday to stimulate drilling as
natural gas prices remain weak. [ID:nN06352341]
HUDBAY MINERALS (HBM.TO)
HudBay Minerals said on Thursday its second-quarter profit
jumped nearly 170 percent as a C$100 million gain on the sale
of its 16.7 percent stake in Lundin Mining (LUN.TO) more than
offset the impact of weaker copper and zinc
prices.[ID:nN06354299]
AIR CANADA (ACa.TO)
Air Canada reported a 27 percent increase in second-quarter
net earnings on Friday, helped by foreign exchange gains.
[ID:nBNG480015]
OIL
Oil edged down on Friday from a six-week high as markets
looked to upcoming U.S. July employment data for clues on
whether the U.S. economy could be emerging from recession.
[ID:nSP458159]
GOLD, BASE METALS
Gold held around $960 an ounce on Friday, drifting slightly
lower as the dollar recovered early losses against a currency
basket, but trading was muted ahead of key U.S. non-farm
payrolls data due later in the session. [ID:nL718573] Base
metals were also lower. [ID:nMAN402437]
CANADA RESEARCH
* Canaccord Adams Alamos Gold (AGI.TO) raises price target
to C$10 from C$9.90; rating hold.
for more research, please see: [CA-RCH]
($1=$1.08 Canadian)
(Reporting by Nina Lex; Editing by Chizu Nomiyama)
