CANADA STOCKS-TSX set to open higher after strong jobs data

Fri Mar 8, 2013 9:01am EST
 
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March 8 (Reuters) - Toronto's main stock index looked set to open higher on Friday, with investors buoyed by the release of stronger-than-expected Canadian and U.S. jobs data.

TOP STORIES

* Canada's job market rebounded from January's losses to add 50,700 net new positions in February, with most of the gains in the services industries while manufacturers saw hefty layoffs for the second straight month.

* U.S. employers stepped up hiring in February, pushing the unemployment rate to a four year-low and suggesting the economy has enough momentum to withstand the blow from higher taxes and deep government spending cuts.

* China's exports soared past forecasts to jump by a fifth in February from a year ago, a sign the country's modest economic revival is intact and suggesting global demand may also be on the mend.

* Google's Motorola Mobility unit is to shed another 1,200 jobs or 10 percent of its workforce as the smartphone maker tries to return to profitability, Google said.

* The biggest U.S. banks have enough capital to withstand a severe economic downturn, the Federal Reserve said on Thursday, with all but one passing the annual health check of the financial sector.

* Proponents of the TransCanada Corp Keystone XL pipeline in the House of Representatives on Thursday outlined a new push to take the decision on the project out of the hands of the Obama Administration and to limit further legal and regulatory delays.

MARKET SNAPSHOT   Continued...