March 8 (Reuters) - Toronto’s main stock index looked set to open higher on Friday, with investors buoyed by the release of stronger-than-expected Canadian and U.S. jobs data.
* Canada’s job market rebounded from January’s losses to add 50,700 net new positions in February, with most of the gains in the services industries while manufacturers saw hefty layoffs for the second straight month.
* U.S. employers stepped up hiring in February, pushing the unemployment rate to a four year-low and suggesting the economy has enough momentum to withstand the blow from higher taxes and deep government spending cuts.
* China’s exports soared past forecasts to jump by a fifth in February from a year ago, a sign the country’s modest economic revival is intact and suggesting global demand may also be on the mend.
* Google’s Motorola Mobility unit is to shed another 1,200 jobs or 10 percent of its workforce as the smartphone maker tries to return to profitability, Google said.
* The biggest U.S. banks have enough capital to withstand a severe economic downturn, the Federal Reserve said on Thursday, with all but one passing the annual health check of the financial sector.
* Proponents of the TransCanada Corp Keystone XL pipeline in the House of Representatives on Thursday outlined a new push to take the decision on the project out of the hands of the Obama Administration and to limit further legal and regulatory delays.
* Canada stock futures traded up
* U.S. stock futures , , were up
* European shares, were up
* Thomson Reuters-Jefferies CRB Index : 293.4227; rose 0.07 percent
* Gold futures : $1,577.2; rose 0.15 percent
* US crude : $91.18; fell 0.42 percent
* Brent crude : $109.77; fell 1.24 percent
* LME 3-month copper : $7,748.25; fell 0.22 percent
* Brookfield Asset Management : The U.S. securities regulator is looking into a bribery charge leveled against the Brazilian unit of the company, the WSJ reported, citing people familiar with the plans.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Allied Nevada Gold Corp : BMO cuts target price to C$18 from C$22.50, as the actual technical report of the company highlights that a majority of operating costs have risen while production has seen a moderate decline.
* Cathedral Energy Services Ltd : RBC cuts price target to C$5.50 from C$6, says although the market share of the company may rebound in the first quarter of 2013 in Canada, it may not reach levels seen in prior first quarters.
* Canadian Natural Resources Ltd : CIBC cuts rating to sector performer from sector outperformer due to the company’s increasingly rich valuation and raises target price to C$35 from C$34 to reflect the pending Montney sale.
* Constellation Software Inc : CIBC raises price target to C$127 from C$117, says despite the near-term margin impact, the European acquisitions will yield longer-term value as the economy improves.
* Major Canadian economic data includes Canadian housing starts and employment data
* Major U.S. events and data includes payrolls figures