April 3, 2009 / 12:14 PM / 8 years ago

CANADA STOCKS-TSX seen little changed; U.S. jobs data eyed

TORONTO, April 3 (Reuters) - Toronto’s main stock index could open little changed on Friday after soaring to its highest close in nearly three months the day before, as commodities were little changed and as investors braced for key U.S. monthly jobs data.

World stocks .MIWD00000PUS steadied on Friday as investors were cautious ahead of the closely watched U.S. employment report. U.S. stock index futures were slightly higher ahead of the data. [ID:nN03313510]

On Thursday, the S&P/TSX composite index .GSPTSE rose 131.32 points, or 1.47 percent, to close at 9,073.14, its highest closing level since Jan. 9, buoyed by hopes that actions agreed to at the G20 summit in London would help restore global growth.

Here is some news that could affect the market:

EYES ON U.S. JOBS DATA

The United States is likely to see another grim monthly jobs report when it issues March data on Friday, the White House said. [ID:nL3248201] Forecasters polled by Reuters expect the nonfarm payrolls data to show the economy shed 650,000 jobs in March, while the jobless rate is forecast at 8.5 percent.[ID:nN01523085]

RESEARCH IN MOTION RIM.TO

Research In Motion RIMM.O posted surprisingly strong quarterly earnings on Thursday and offered a rosy outlook that signaled further growth despite the global economic slowdown as consumers embrace its newest BlackBerry smartphones. [ID:nN02275379]

AIR CANADA ACa.TO

Air Canada needs to make sharp cuts in its aircraft fleet and operations, and probably cannot do that without filing for bankruptcy protection, analyst Jacques Kavafian of Research Capital warned on Thursday. [ID:nN02287219]

ABITIBIBOWATER ABH.TO

Ottawa should play a role in restructuring talks between AbitibiBowater ABH.N and its lenders and help prevent the loss of up to 12,000 Canadian jobs, the company’s main union said on Thursday. [ID:nN02254740]

OIL SAGS

Oil CLc1 turned negative to below $53 a barrel after rising earlier on Friday, extending big gains in the previous session. [ID:nSP398385]

GOLD, BASE METALS

Gold edged lower on Friday, extending the previous session’s losses as equity markets steadied [ID:nL3511965], while base metals were mostly higher. [ID:nL3140997]

HARRY WINSTON DIAMOND HW.TO

Diamond miner and retailer Harry Winston Diamond Corp posted a fourth-quarter loss, hurt by an impairment charge, and said lower rough diamond production and prices weighed on its results. [ID:nBNG502240]

DOMTAR CORP (UFS.TO)

Domtar Corp says to temporarily idle its Dryden, Ontario pulp mill and Ear Falls, Ontario saw mill. Its Ear Falls saw mill will be idled for approximately seven weeks, effective April 10, affecting about 500 people. [ID:nWNAB0382]

CASCADES INC (CAS.TO)

Packaging and paper-products company Cascades Inc said its unit Norampac will stop production at its Quebec-based plant, citing a fall in demand for corrugated products, affecting about 145 employees. [ID:nBNG501448]

CANADIAN RESEARCH [CA-RCH]

RBC raises Research in Motion RIM.TO RIMM.O price target to $80 from $75.

Raymond James raises Denison Mines Corp (DML.TO) to market perform from underperform, while Genuity raises CI Financial (CIX.TO) price target to C$16 from C$14. [ID:nBNG416311] ($1=$1.24 Canadian) (Reporting by Jennifer Kwan, Editing by Chizu Nomiyama)

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