CANADA STOCKS-TSX may open lower on weak commodities,
TORONTO, July 10 (Reuters) - Toronto's main stock market index could open lower on Friday, as weaker commodity prices, including oil, weigh on the resource-heavy market.
Uncertainty on company earnings and economic recovery prospects hobbled global markets. [ID:nLA360555]
The Canadian dollar was lower versus the U.S. currency as early gains made after a domestic jobs report beat expectations were handed back as a closer look at details of the report revealed weakness. [ID:nN10501942]
U.S. stock index futures pointed to a lower open on Friday after Chevron Corp warned about its second-quarter earnings, raising the specter of a weaker-than-expected second-half economic recovery and anemic corporate profits.[ID:nN10498725]
On Thursday the S&P/TSX composite index .GSPTSE finished up 120.47 points, or 1.25 percent, at 9,773.92.
Here is some news that could affect the market:
CANADA JOB LOSSES
Fewer Canadians lost their jobs in June than expected as hiring in services industries partially offset factory layoffs, but the unemployment rate rose to a new 11-year high as more people looked for work. [ID:nN10253705]
OIL FALLS
Oil prices sank below $60 a barrel on Friday, poised for their biggest weekly fall since January, as traders focused on economic uncertainty. [ID:nSP476597]
GOLD, BASE METALS
Gold slipped on Friday as the firmer dollar and weaker oil pressured prices, but losses were limited as physical buying curbed the metal's slide. [ID:nLA430812] Most base metals were down. [ID:nLA447394]
SNC-LAVALIN GROUP INC (SNC.TO)
Canada's biggest engineering company, SNC-Lavalin Group Inc said on Thursday it has been awarded a contract to design, engineer and manage the construction of a new city in Algeria that will house 80,000 people.[ID:nN09475674]
IMPERIAL OIL LTD (IMO.TO)
Imperial Oil Ltd, which is exploring a big shale gas play in British Columbia, declined to confirm comments by its partner on initial production rates that were reported in the Wall Street Journal. [ID:nN09198862]
OECD
The economic outlook for the 30-nation OECD area improved in May and there are signs that the downturn in Canada, Britain, the United States, China and India had reached a bottom, an OECD survey said on Friday. [ID:nLA471686]
CANADA RESEARCH
* UBS raises Alamos Gold (AGI.TO) price target to C$11.50 from C$11.25; rating buy. [ID:nWNAB6110]
* Desjardins raises Astral Media Inc (ACMa.TO) target price to C$32 from C$28; rating hold. [ID:nWNAB6099]
* RBC raises Orleans Energy (OEX.TO) to top pick from outperform. [ID:nWNAB6107]
For more research, please see: [CA-RCH]
($1=$1.16 Canadian) (Reporting by Nina Lex; Editing by Jeffrey Hodgson)
