CANADA STOCKS-TSX set for lower open on soft Canada, U.S. data

Fri Nov 4, 2011 8:53am EDT
 
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Nov 4 (Reuters) - Toronto's main stock index looked set to open slightly lower on Friday after Canadian and U.S. jobs growth came in lower than forecast.

Unexpected job losses in October pushed Canada's unemployment rate higher, confirming expectations the economy is weakening and interest rate increases are off the radar. [ID:nN1E7A3026]

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a lower open.

* The Canadian dollar dropped more than a cent after Canadian employment plunged in October, bucking expectations for a gain in jobs and boosting the chances of an eventual Bank of Canada interest rate cut. [CAD/]

* U.S. stock index futures briefly turned positive after Labor Department data showed employment rose less than expected in October, though the jobless rate dropped, hinting at some improvement in the jobs picture. [.N]

* European shares drifted higher in choppy trade as signs Greece would seek political consensus on a new aid package and dump a referendum helped cap some fears of an imminent default, although the outcome remains uncertain. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.25 percent in early trade.   Continued...