February 6, 2015 / 2:08 PM / in 3 years

CANADA STOCKS-TSX set to open higher on economic data

(Adds jobs and housing permits data)

Feb 6 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Friday after better-than-expected employment and construction data.

March futures on the S&P TSX index were up 0.22 percent at 8.30 a.m. ET.

Canada’s economy added a higher-than-expected 35,400 jobs in January, with the bulk of the hiring in part-time positions and among women aged 55 and over, according to Statistics Canada data released on Friday.

The value of Canadian building permits rose by a higher-than-expected 7.7 percent in December on strong growth in non-residential construction intentions, Statistics Canada data indicated on Friday.

Canada’s main stock index gained on Thursday as a 4-percent jump in crude oil prices helped energy stocks, while banks also contributed to a more positive tone.

Dow Jones Industrial Average e-mini futures were up 0.32 percent at 8.30 a.m. ET on Friday, while S&P 500 e-mini futures were up 0.29 percent and Nasdaq 100 e-mini futures were up 0.21 percent.

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

TOP STORIES

Royal Bank of Canada and Canadian Imperial Bank of Commerce, two of Canada’s biggest banks, looked at buying U.S. lender Boston Private Bank & Trust Co, the Wall Street Journal reported, citing people familiar with the matter.

Canada and Japan must open their markets to farm imports under a Pacific trade pact, the chairman of a U.S. congressional committee responsible for trade said on Thursday, adding that any country that cannot meet the deal’s goals should drop out.

COMMODITIES AT 8.30 a.m. ET

Gold futures : $1,246.50; -1.23 pct

US crude : $51.56; +2.02 pct

Brent crude : $57.75; +2.26 pct

LME 3-month copper : $5,692.5; -0.45 pct

ANALYST RESEARCH HIGHLIGHTS

BCE Inc. CIBC raises target price to C$58 from C$50

Canfor Pulp Products Inc. CIBC raises price target to C$20 from C$17.50

Firstservice Corp. CIBC raises target price to C$73 from C$62

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-Farm payrolls for Jan: Actual +257,000; Prior +252,000

0830 Private payrolls for Jan: Actual +267,000; Prior +240,000

0830 Manufacturing payrolls for Jan: Actual +22,000; Prior +17,000

0830 Unemployment rate for Jan: Actual +5.7 pct; Prior +5.6 pct

0830 Average earnings mm for Jan: Actual +0.5 pct; Prior -0.2 pct

0830 Average workweek for Jan: Actual +34.6 hrs; Prior +34.6 hrs

1500 Consumer credit for Dec: Expected +15.00 bln; Prior +14.08 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= C$1.24 Reporting by Nandi Kaul in Bengaluru; Editing by Don Sebastian and Saumyadeb Chakrabarty

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