CANADA STOCKS-TSX poised to fall at open on jobs data

Fri Dec 5, 2008 9:06am EST
 
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TORONTO Dec 5 (Reuters) - The Toronto Stock Exchange's main index could open lower on Friday on lower commodity prices and as Canadian and U.S. jobs data showed steep losses, heightening concerns about the depth of the global economic downturn.

On Thursday, the S&P/TSX composite index .GSPTSE closed down 239.14 points, or 2.88 percent, at 8,057.82, pulled down by sliding oil prices, while the suspension of Canada's Parliament also weighed on sentiment.

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

CANADA, U.S. JOBS DATA

Canada registered 70,600 job losses in November, the most in any month since June 1982, fueling expectations of a big interest rate cut next week and likely adding spark to a political crisis in Ottawa. [ID:nN05253705]

U.S. employers axed payrolls by an unexpectedly high 533,000 in November, government data showed. [ID:nN04409522]

RBC (RY.TO: Quote)

Royal Bank of Canada said on Friday (RY.TO: Quote) quarterly profit fell 15 percent as higher loan loss provisions and previously announced securities losses pushed down results. [ID:nN05276999]

PARLIAMENT SUSPENDED   Continued...