CANADA STOCKS-TSX may strengthen on resources, jobs data

Fri Sep 4, 2009 9:02am EDT
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(Adds U.S. jobs data, other items)

TORONTO, Sept 4 (Reuters) - Toronto's main stock index may open higher on Friday, boosted by stronger-than-expected jobs data in Canada and the U.S., while strengthening commodity prices could also help lift the resource-laden market.

Canada unexpectedly added jobs last month, a further sign that the economy is healing. The U.S. nonfarm payrolls report added to evidence that the U.S. economy was also on the mend, as the pace of layoffs eased from early this year even as the jobless rate rose. U.S. stock index futures were sharply higher, suggesting a higher open. [.N]

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 of 8.7 percent from 8.6 percent in July as more people entered the labor market, Statistics Canada said. [ID:nN04153956]

* U.S. employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high. The U.S. Labor Department said the unemployment rate rose to 9.7 percent after dipping to 9.4 percent in July and the decline in payrolls was the smallest in a year. [ID:nN03530870]

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