CANADA STOCKS-TSX may open lower after US jobs data

Fri Jul 2, 2010 8:45am EDT
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July 2 (Reuters) - Toronto's main stock index could open lower on Friday after U.S. jobs data came in lighter than expected, signaling persistent weakness in the economy of Canada's biggest trade partner.

U.S. employment fell for the first time this year in June as thousands of temporary census jobs ended and private hiring grew less than expected, dealing a blow to President Barack Obama who has identified job creation as a key priority.

Mining issues may come under the spotlight in Toronto as Australia dumped its proposed "super profits" tax on the sector for a lower resource rent tax. Higher copper and gold prices could benefit shares in the sector.

European shares rose, with miners and banks among the top gainers.

Asian markets were mixed, with Nikkei closing just above a key retracement support level.

Here is some news that could affect stock prices:


Oil inched up to above $73 a barrel on Friday, bouncing from about a three-week low hit on Thrusday, but the market remained preoccupied by concerns over the global economy. [O/R]

COPPER, ZINC RISE   Continued...