CANADA STOCKS-TSX may open lower after weak U.S. jobs data

Fri Jun 4, 2010 8:56am EDT
 
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June 4 (Reuters) - Toronto's main stock index could open lower on Friday as unexpectedly weak U.S. employment data overshadowed a report showing Canadian job gains in May were almost twice as high as expectations.

Wall Street was also set for a lower start after the report, with fresh investor worries about Europe's sovereign debt crisis in the region also weighing. [.N]

U.S. nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply as businesses opted to increase hours rather than hire new workers. [ID:nN03243431]

Separately, Statistics Canada said 24,700 jobs were added in May, as the economy posted its fifth consecutive monthly increase in employment. Analysts had predicted an increase of 12,500 jobs. [ID:nN04104059]

The G20 policymakers expressed concern about the health of the world economy even as they closed ranks behind the euro zone's efforts to tackle a debt crisis that has rattled global markets. [ID:nTOE65300H]

Here is some news that could affect stock prices:

OIL EASES

U.S. crude oil futures fell more than $1 on Friday, briefly falling below $73 a barrel, after a report showed U.S. non-farm payrolls rose a less-than-expected 431,000 in May. [O/R]

COPPER RISES   Continued...