4 Min Read
TORONTO, Sept 10 (Reuters) - Toronto's main stock index could open higher on Friday, buoyed by a jump in crude oil prices on a forced shutdown of a major U.S.-Canada pipeline and slightly stronger-than-expected jobs data.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* Canada's economy added 35,800 jobs in August, slightly more than expected, although the pace of employment creation was slower than in the first half of the year, Statscan report showed.
* The Canadian dollar rose to a three-week high against the U.S. dollar after data showed the Canadian economy added more jobs than expected last month.
* U.S. stock index futures rose slightly on Friday in low volume and were up for the seventh day in eight, buoyed by a jump in crude oil prices. [.N]
* European shares retreated from four-month highs on Friday, with banks slipping ahead of the Basel Committee meeting and on a report Deutsche Bank plans a capital increase of up to 9 billion euros (US$11.4 billion). [.EU]
* Asian markets rose with the Nikkei gaining 1.6 percent, helped by what some market players said was buying of futures and a slight softening of the yen against the dollar.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, 0.43 percent in early trade.
* U.S. crude approached a three-week high near US$76, after record U.S. inventories were offset by the shutdown of a major pipeline, but a leading forecaster said oil demand would remain tepid. [O/R]
* Gold held steady below US$1,250 an ounce after a slight improvement in risk appetite weighed on prices but bullion still looked on track to test record highs on lingering worries about the global economy. [GOL/]
* Copper slid as the market fretted about tighter policy in top consumer China, but strong metals import data from the country helped support prices. [MET/L]
* Enbridge Inc. (ENB.TO): The company shut down the largest of its three major oil pipelines on Thursday after a leak was discovered near Romeoville, Illinois in its 670,000 bpd Line 6A, reducing supply on the main transit route for Canadian crude into the United States.[ID:nSGE68901J].
* Potash Corp (POT.TO): The Canadian government is aware of concerns that have been raised about a possible takeover of Potash Corp, the world's biggest fertilizer producer, and will analyze them thoroughly if need be, Prime Minister Stephen Harper said on Thursday.[ID:nLA9KE61P]
* Suncor Energy Inc (SU.TO): The government of the Canadian province of Alberta said on Thursday it has laid nine charges against the company, alleging it failed to properly manage storm water runoff at a construction site in northern Alberta's oil sands in May 2008. [ID:nN09211980]
* Lululemon Athletica Inc LLL.TO (LULU.O): The specialty clothing retailer posted a more than two-fold jump in second-quarter profit as its newest stores sold more yoga and athletic wear, and raised its full-year outlook. [ID:nSGE68907P]
* Empire Co Ltd (EMPa.TO): The Canadian company that owns the Sobey's grocery chain posted a 9 percent drop in profit, in part because of a decrease in capital gains. [ID:nN10246181]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Baja Mining Corp. BAJ.TO rating started with outperform; price target of C$1.35 at Raymond James
* Stantec Inc. (STN.TO) price target raised to C$33.75 from C$33; rating outperform at Raymond James * Suroco Energy Inc. SRN.V price target cut to C$0.95 from C$1; rating outperform at Raymond James
(US$1= $1.03 Canadian)
Reporting by Bangalore newsroom