CANADA STOCKS-TSX set to rise on higher oil, strong U.S. data

Fri Apr 1, 2011 8:54am EDT
 
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April 1 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Friday, extending gains from previous session, led by rising oil prices and U.S. data showing a second straight month of solid job gains.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a higher open.

* U.S. stock index futures rose as U.S. employment recorded a second straight month of solid gains and the jobless rate fell to a two-year low. [.N]

* European shares bounced back on hopes strong U.S. jobs data will signal a recovery in the labor market and show the economic recovery was gathering pace, though equities faced some technical resistance levels. [.EU]

* Asian shares outside Japan rose to their highest in nearly three years, looking to extend a three-quarter winning streak, while the yen slipped on the view Japanese interest rates will stay near zero for a long time to help the quake-ravaged economy.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.4 percent in early trade.

* U.S. and Brent crude futures prices initially pared gains on Friday in choppy trading after a report showed more nonfarm payrolls jobs and more private sector jobs were added in March than had been expected. [O/R]   Continued...