CANADA STOCKS-TSX falls broadly as jobs in focus, golds up

Thu Feb 5, 2009 10:46am EST
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* Golds glimmer, leading materials group higher

* Eight sectors lower

* Layoffs announced at Bombardier, Magna, Domtar

* Markets await U.S., Canadian jobs data on Friday

By Ka Yan Ng

TORONTO, Feb 5 (Reuters) - Toronto's main stock index fell broadly on Thursday morning as anxiety ahead of Friday's jobs reports from Canada and the United States weighed, but gains in the materials sector capped losses.

As market watchers prepare for January's employment figures from the U.S. and Canada on Friday morning, autoparts maker Magna International MGa.TO and plane and train maker Bombardier (BBDb.TO: Quote) were among several Canadian companies to announce layoffs. Meanwhile, weekly U.S. jobless claims data surged to a 26-year high.

Bombardier was among the most active, down 1.1 percent at C$3.68, as the company said it plans to cut more than 1,300 jobs as it braces for a 10 percent drop in business jet orders. [ID:nN05358628]

Magna was off 2 percent at C$35 after it said it would shut a plant in Syracuse, New York, which will ultimately eliminate 1,400 jobs.   Continued...