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CANADA STOCKS-TSX set to open higher, focus on jobs data
July 11, 2014 / 11:26 AM / in 3 years

CANADA STOCKS-TSX set to open higher, focus on jobs data

July 11 (Reuters) - Canadian stocks looked set to open higher on Friday as investors awaited the country’s key jobs report.

June futures on the S&P TSX index <0#SXF:> were up 0.05 percent at 0715 ET.

Statistics Canada’s employment data for June is due at 0830 ET. Investors are also positioning for next week’s monetary policy statement from the Bank of Canada.

The index dropped on Thursday as worries about the financial woes of a major Portuguese bank spurred a selloff in equity markets globally and weighed on every major sector.

Dow Jones Industrial Average e-mini futures were up 0.16 percent at 0715 ET, while S&P 500 e-mini futures were up 0.17 percent. Nasdaq 100 e-mini futures were up 0.26 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Worries about soft growth will keep the Bank of Canada from hiking interest rates until late next year, although rising prices are expected to make it temper concerns about low inflation in its policy statement next week, a Reuters poll found.

The union representing about 1,000 workers at a Bombardier Inc railcar production facility in Thunder Bay, Ontario threatened to strike on Monday if the parties fail to come to an agreement.

Inter Pipeline Ltd, which operates regional pipeline systems in Western Canada, said on Thursday it planned a C$100 million expansion of its oil lines in Saskatchewan to add capacity of 95,000 barrels per day.

COMMODITIES AT 0715 ET

Gold futures : $1,337.7; -0.11 pct

US crude : $102.51; -0.41 pct

Brent crude : $108.16; -0.47 pct

LME 3-month copper : $7,133.25; -0.4 pct

ANALYST RESEARCH HIGHLIGHTS

Cogeco Cable Inc : Barclays, National Bank Financial raise price target on stock

Grenville Strategic Royalty : National Bank Financial resumes coverage with outperform rating

Fortuna Silver Mines : CIBC raises target to C$6.50 from C$5; rating sector performer

U.S. ECONOMIC DATA DUE ON FRIDAY

1030 ECRI weekly index: Prior +135.3

1030 ECRI weekly annualized: Prior +4.3 pct

1400 Federal budget for June: Expected +$80 bln, prior -$130 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= $1.06 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Kirti Pandey

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