July 11, 2014 / 1:02 PM / 3 years ago

CANADA STOCKS-TSX looks set to open higher despite weak jobs data

3 Min Read

(Adds Canadian economic data)

July 11 (Reuters) - Canadian stocks looked set to open higher on Friday even after data showed the country unexpectedly shed 9,400 jobs in June.

June futures on the S&P TSX index <0#SXF:> were up 0.18 percent at 0845 ET.

Canada's unemployment rate rose to 7.1 percent, from 7.0 percent in May, as more people sought work, Statistics Canada data showed.

The index dropped on Thursday as worries about the financial woes of a Portuguese bank spurred a selloff in global equity markets and weighed on every major sector.

Dow Jones Industrial Average e-mini futures were up 0.05 percent at 0845 ET, while S&P 500 e-mini futures were up 0.09 percent. Nasdaq 100 e-mini futures were up 0.22 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Worries about soft growth will keep the Bank of Canada from hiking interest rates until late next year, although rising prices are expected to make it temper concerns about low inflation in its policy statement next week, a Reuters poll found.

Nordion Inc, a supplier of medical isotopes, said it had cleared a U.S. antitrust hurdle, paving the way for the company to be acquired by Sterigenics.

CME Group and Thomson Reuters will operate the London silver fix when the current 117-year-old process is disbanded in August, in a move widely seen preceding broad reforms of precious metals benchmarking.

Commodities at 0845 Et

Gold futures : $1,338.6; -0.01 pct

US crude : $102.25; -0.66 pct

Brent crude : $107.7; -0.89 pct

LME 3-month copper : $7,126; -0.5 pct

Analyst Research Highlights

Cogeco Cable Inc : Barclays, National Bank Financial raise price target on stock

Grenville Strategic Royalty : National Bank Financial resumes coverage with outperform rating

Fortuna Silver Mines : CIBC raises target to C$6.50 from C$5; rating sector performer

u.s. Economic Data Due on Friday

1030 ECRI weekly index: Prior +135.3

1030 ECRI weekly annualized: Prior +4.3 pct

1400 Federal budget for June: Expected +$80 bln, prior -$130 bln

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= $1.07 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Kirti Pandey and Ted Kerr

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