CANADA STOCKS-TSX may strengthen on resources, Canada jobs data

Fri Sep 4, 2009 8:06am EDT
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TORONTO, Sept 4 (Reuters) - Toronto's main stock index may open higher on Friday, underscored by stronger-than-expected job gains in Canada and strengthening commodity prices.

Canada unexpectedly added jobs last month, a further sign that the economy is healing, but overall market tone is likely to be determined by the U.S. jobs figures, due at 8:30 a.m. (1230 GMT).

The S&P/TSX composite index .GSPTSE closed Thursday's session up 220.17 points, or 2.06 percent, at 10,921.49.

Here is some of the news that may affect the market.


Canada's economy added 27,100 jobs in August but the unemployment rate rose to an 11-1/2 year high 8.7 percent from 8.6 percent in July as more people entered the labor market, Statistics Canada said. [ID:nN04153956]

The U.S. unemployment rate was forecast to have inched up in August to 9.5 percent after dipping slightly the previous month, while 225,000 jobs were likely lost, a Reuters survey showed. [ID:nN01485399]


Gold steadied below $990 an ounce, consolidating a potent two-day rally that took the market to within a whisker of $1,000, with inflation concerns and jitters over stock market gains stoking investor interest. [ID:nL4410302]   Continued...