CANADA STOCKS-TSX may open up after Greek deal, eye on U.S. jobs

Fri Mar 9, 2012 8:23am EST
 
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March 9 (Reuters) - Toronto's main stock index looked set to open higher on Friday, after 85 percent of Greece's private creditors accepted its bond swap offer, but investors were also expected to take their cue from U.S. jobs data.

The consensus estimate is for the U.S. labor department to announce 210,000 non-farm jobs created during the month.

Canada unexpectedly failed to create any new jobs in February, continuing a trend of stalled employment despite healthy economic growth rates and contrasting with renewed strength in the United States.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* The Canadian dollar weakened to a session low against its U.S. counterpart after data showed domestic employment in February remained virtually unchanged with the loss of 2,800 jobs.

* U.S. stock index futures edged lower after their strongest two-day gain in nearly three months and ahead of a report likely to show U.S. employment grew solidly for a third straight month.

* European stocks traded in a narrow range after Greece's successful bond swap, with investors turning their attention to U.S. job data.

COMMODITY PRICE MOVES   Continued...