CANADA STOCKS-TSX set to open higher as jobs data fuels optimism

Fri Oct 5, 2012 9:05am EDT
 
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Oct 5 (Reuters) - Canada's main stock index looked set to open higher on Friday, in line with global markets, as unexpectedly strong North American jobs data supported appetite for riskier assets.

TOP STORIES

* The Canadian economy added a thumping 52,100 jobs in September, almost all of them full-time, defying expectations and bolstering the Bank of Canada's case for an eventual interest rate rise.

* The U.S. unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama's re-election bid.

* The European Central Bank envisions buying large volumes of sovereign bonds for a period of one to two months once its "OMT" program is launched, but would then suspend purchases during an assessment period, senior central bank sources told Reuters.

* Samsung Electronics reported a record quarterly profit of $7.3 billion, nearly double last year's figure, as strong sales of high-end TVs and Galaxy smartphones more than offset reduced orders for chips and screens from Apple Inc, its main rival and leading customer.

MARKET SNAPSHOT

* Canada stock futures traded up 0.3 percent   Continued...