CANADA STOCKS-Futures higher after positive economic data

Fri Mar 4, 2016 9:04am EST
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(Updates with economic data)

March 4 (Reuters) - Canadian stock futures extended gains on Friday after better-than-expected economic data from the United States and Canada eased investor concerns over global growth.

The U.S. Labor Department said nonfarm payrolls increased by 242,000 jobs last month. The unemployment rate held at an eight-year low of 4.9 percent even as more people piled into the labor market.

Canada's trade deficit edged up to C$655 million ($489 million) in January from C$631 million in December as imports grew slightly more than exports, Statistics Canada said.

March futures on the S&P TSX index were up 0.52 percent at 8:45 a.m. ET.

In another report, Statistics Canada said the labor productivity of Canadian businesses grew by just 0.1 percent in the fourth quarter of 2015, down from 0.4 percent in the third quarter.

Canada's main stock index hit a 2016 high on Thursday as energy stocks rose despite a petered out oil rally, and other resources stocks gained as commodity prices more generally reflected increased confidence in prospects for global growth.

Dow Jones Industrial Average e-mini futures were up 0.36 percent at 8:45 a.m. ET. S&P 500 e-mini futures were up 0.35 percent and Nasdaq 100 e-mini futures were up 0.47 percent.

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