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

Fri Jul 11, 2014 9:01am EDT
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(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.

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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.   Continued...