CANADA STOCKS-TSX set to open higher after U.S. jobs data

Fri Aug 3, 2012 8:42am EDT
 
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Aug 3 (Reuters) - Canada's main stock index looked set to open higher on Friday after data showed U.S. employers in July hired the most workers in five months, but an increase in the jobless rate was seen keeping expectations of additional monetary stimulus from the Federal Reserve intact.

TOP STORIES

* Nonfarm payrolls rose 163,000 last month, the Labor Department said on Friday, beating economists expectations for a 100,000 gain. The report was dimmed somewhat by the increase in the jobless rate from 8.2 percent in June, even as more people gave up the search for work.

* Europe's biggest economies endured another torrid month in July as businesses battled slumping demand, according to surveys on Friday that gave scant hope the region will emerge any time soon from a malaise induced by a paralyzing debt crisis.

* North America's biggest farm retail supplier Agrium Inc reported a 20 percent increase in quarterly profit late on Thursday as demand for crop inputs remained strong.

* Procter & Gamble Co posted a higher-than-expected quarterly profit despite a drop in sales, just weeks after the world's largest household products maker took the blame for its disappointing performance and said it was focusing on ways to improve.

* Financial services company GMP Capital Inc reported a second-quarter loss as the European debt crisis weighed on capital markets and said equity underwriting has slowed considerably.

MARKET SNAPSHOT

* Canada stock futures traded up 0.55 percent   Continued...