CANADA STOCKS-TSX set to open lower as U.S. payrolls top forecasts

Fri Nov 8, 2013 8:55am EST
 
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Nov 8 (Reuters) - Canadian stock index futures pointed to a lower open on Friday, tracking European and Asian markets, after U.S. job growth unexpectedly accelerated in October, raising the odds that the Federal Reserve will scale back its stimulus program before the end of the year.

TOP STORIES

* U.S. job growth unexpectedly accelerated in October as employers shrugged off a government shutdown, suggesting the budget standoff had a more limited impact on the economy than initially feared.

* Standard & Poor's cut France's sovereign credit rating on Friday by one notch to AA from AA+, giving a thumbs-down to President Francois Hollande's efforts to put the euro zone's second largest economy back on track.

* Air Canada's third-quarter profit handily beat analysts' estimates as a key measure of costs fell and the company, which launched a discount airline earlier this year, forecast higher capacity for the year.

* Talisman Energy Inc said it would sell a stake in some of its natural gas assets in British Columbia's Montney field to Malaysia-controlled Progress Energy Canada Ltd for C$1.5 billion as it restructures global operations.

* Boeing said it was ready to re-examine alternative sites for its newest jet if assembly workers and local politicians do not ratify plans to build it in the Seattle area, its traditional manufacturing base.

MARKET SNAPSHOT   Continued...