CANADA STOCKS-TSX likely to fall as jobs outlook, oil weigh

Thu Feb 5, 2009 8:56am EST
 
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TORONTO Feb 5 (Reuters) - Toronto's main stock index looked poised to fall at the open on Thursday as the price of crude eased and as investors gird for sour employment data.

Anxiety ahead of Friday's jobs reports from Canada and the United States was expected to weigh on stocks. Several Canadian companies announced layoffs while weekly U.S. jobless claims data surged to a 26-year high. [ID:nN04302723]

The S&P/TSX composite index .GSPTSE rose for a second consecutive day on Wednesday as mining shares were boosted by a rise in underlying commodity prices, but weakness in financials kept the gains in check.

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

CERTICOM FAVORS RIM'S SWEETENED OFFERING

Certicom Corp CIC.TO said Research In Motion's RIM.TO C$3-a-share sweetened offer for the electronic security company is a "superior offer" to a previous bid from VeriSign Inc VRSN.O. [ID:nN05346516]

OIL HOLDS NEAR $40, GOLD OFF HIGHS

Oil slipped slightly lower but held close to $40 a barrel on Thursday as investors anticipated more bleak economic data out of the world's biggest fuel consumer. The outlook for more huge job losses in the United States darkened the demand prospects. [ID:nSP347094]

Gold slipped from highs after the European Central Bank opted to keep interest rates on hold. [ID:nL5408601]   Continued...