CANADA STOCKS-TSX may open lower, jobs and trade data eyed

Fri Feb 8, 2013 8:33am EST
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Feb 8 (Reuters) - Canada's main stock index futures pointed to a slightly lower open on Friday, despite encouraging Chinese trade data that set the scene for economic recovery. Canadian jobs and housing data both came in weaker than expected.


* After two months of hefty gains Canada's economy unexpectedly shed 21,900 jobs in January, almost entirely in full-time work, according to Statistics Canada data released on Friday.

* Canadian housing starts plunged in January as both single and multiple starts fell, particularly in Ontario, Canada Mortgage and Housing Corp said in a report that showed the housing market was even weaker than expected.

* China's exports and imports surged and new lending soared in January as the first hard data of the year signalled both a solid recovery in domestic and overseas demand, and the risk that inflationary pressures are building.

* European Union leaders agreed the framework of a new long-term budget after 15 hours of negotiation, laying the ground for 960 billion euros of spending on agriculture, aid and scientific research in the years ahead.

* Credit rating agency Moody's Corp, which could face a federal lawsuit tied to pre-crisis ratings, reported a 66 percent jump in quarterly profit as it benefited from a wave of debt issues.

MARKET SNAPSHOT   Continued...