December 6, 2013 / 1:57 PM / 7 years ago

CANADA STOCKS-TSX set for higher open after strong jobs data

Dec 6 (Reuters) - Canadian stock index futures pointed to a higher open on Friday, as stronger-than-expected U.S. and Canadian jobs data suggested the economy in both countries expanded further in November.


* U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0 percent, which could fan speculation the Federal Reserve could start reducing its bond purchases this month.

* Canada added 21,600 jobs in November, the third consecutive month of modest gains, and the unemployment rate stayed at a nearly five-year low of 6.9 percent, Statistics Canada said on Friday.

* Bank of Nova Scotia, Canada’s No. 3 lender, reported a 12 percent rise in quarterly profit, helped by strength in its Canadian retail business, an increase in banking fees and stronger wealth management revenue.

* Kyrgyzstan is suing Canada’s Centerra Gold for 15 billion soms ($304 million) over what the government says is ecological damage, marking a new twist in a bitter row with the investor running the largest Kyrgyz gold mine.

* German industrial orders posted their biggest fall in nearly a year in October after a sharp rise in the previous month, as demand for capital goods weakened, Economy Ministry data showed.

* France’s Total has agreed to buy a 61.3 percent stake in InterOil’s IOC.N Papua New Guinea gas fields for up to $3.6 billion, as part of a plan to build a liquefied natural gas export plant.

* Nestle is selling its 10 percent stake in Swiss fragrance and flavor maker Givaudan in an effort to narrow its focus on core operations and clean up its balance sheet.


* Canada stock futures traded up 0.14 percent

* U.S. stock futures , , were up around 0.36 percent to 0.44 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 278.9028; rose 0.25 percent

* Gold futures : $1,232; fell 0.37 percent

* US crude : $97.33; fell 0.05 percent

* Brent crude : $111.31; rose 0.3 percent

* LME 3-month copper : $7,118.75; rose 0.7 percent


Following is a summary of research actions on Canadian companies reported by Reuters.

* CIBC : National Bank Financial raises target price to C$93 from C$90 as the company reported better than expected fourth-quarter results.

* Dollarama Inc : Raymond James raises target price to C$85 from C$80 to reflect an increase in target multiples to levels consistent with the company’s 3-year average.

* Royal Bank of Canada : TD Securities raises rating to buy from hold on valuation.

* Transcontinental Inc : National Bank Financial cuts target price to C$16.50 from C$17.50 as its fourth-quarter results came below analysts expectations.


* Major Canadian economic data includes unemployment rate and labor productivity

* Major U.S. events and data includes payrolls, consumer credit, personal income, personal consumption and average hourly earnings

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