CANADA STOCKS-TSX may open higher after U.S., Canada jobs data

Fri Jun 7, 2013 8:37am EDT
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June 7 (Reuters) - Canadian markets looked set to open higher on Friday after data showed U.S. employers stepped up hiring in May, a sign the economy was growing modestly but not strong enough to convince the Federal Reserve to scale back the amount of cash it is pumping into the banking system.

Separately, Canada's economy created a whopping 95,000 new jobs in May, the biggest monthly gain in 11 years, and most were full-time positions and in the private sector, Statistics Canada said on Friday in a report showing the economy may be gaining momentum.


* German trade activity rose sharply in April, but a cut in the Bundesbank's growth forecast dampened hopes that Europe's largest economy might be gaining momentum.

* Britain's goods trade deficit narrowed more than expected in April as imports dropped, adding to signs the country's economic growth will gather pace in the second quarter but still reflecting a weak recovery. Samsung Elec loses $12 bln market value on smartphone worries

* Samsung Electronics Co lost $12 billion in market value, hit by brokerage downgrades that have underscored concerns about slowing sales of its flagship Galaxy S4 smartphone.

* Royalty Pharma raised its hostile bid for Irish drug firm Elan to a potential $8 billion, after just 7.5 percent of the target company's shareholders accepted its previous offer.

* Wal-Mart Stores Inc is optimistic that sales at its U.S. stores will recover from a recent slow patch and grow in the second half of the year, in part because shoppers are getting more confident, company executives said on Thursday.   Continued...