CANADA STOCKS-TSX may open higher after strong employment data

Fri Jul 9, 2010 8:50am EDT
 
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July 9 (Reuters) - Toronto's main stock index looked set to open higher on Friday after employment data showed Canada's economy created far more jobs than expected in June in a surprising sign of strength after a raft of discouraging data.

A rise in commodity prices, including oil, also suggested a stronger start.

Wall Street is also set for a higher open as investors brace for the start of earnings next week. [.N]

European shares extended a rally into a fourth session with banks among the gainers. European Central Bank President Jean-Claude Trichet dismissed warnings that drastic and simultaneous spending cuts planned by euro zone governments could send the 16-country bloc back into recession.

Asian markets rose with Shanghai Composite Index posting its biggest weekly gain this year.

Here is some news that could affect stock prices:

JOB GROWTH STRONG

Canada's economy created far more jobs than expected in June in a surprising sign of strength after a raft of discouraging data, fueling expectations the central bank will hike interest rates again this month. [ID:nN09262340]

OIL RISES   Continued...