CANADA STOCKS-TSX may open higher on positive jobs data

Fri May 7, 2010 8:48am EDT
 
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May 7 (Reuters) - Toronto's main stock index could open higher on Friday after data showed a historic rise in domestic jobs growth in April.

Statistics Canada said the economy added 108,700 jobs, the highest since Statscan began tracking the data and exceeding even the most upbeat estimate in a Reuters poll, which yielded a median forecast of 25,000 new jobs. [ID:nN0793308]

The Canadian dollar rallied to a high of $1.0338 to the U.S. dollar as the data added pressure on the Bank of Canada to raise rates soon. [CAD/]

Wall Street looked set for a firmer open after U.S. nonfarm payrolls grew at the fastest pace in four years in April as private sector employers ramped up hiring. [.N]

European markets slipped, extending their three-week sell-off to 11 percent. Asian stocks were hammered, with Nikkei shedding more than 3 percent.

Here is some news that could affect stock prices:

OIL UP

Oil rose toward $78 a barrel, trimming an 11 percent loss from a 19-month high hit earlier this week, as international leaders prepared to meet to try to contain Greece's debt crisis. [O/R]

COPPER FALLS   Continued...