September 2, 2011 / 12:43 PM / 8 years ago

CANADA STOCKS-TSX seen sliding after weak U.S. jobs data

Sept 2 (Reuters) - Toronto’s main stock index was set to open sharply lower on Friday after U.S. jobs data signaled the frail state of the world’s largest economy, offsetting possible gains from rising gold prices.


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

* U.S. stock index futures added to losses after labor market data underscored fears the economy is headed for another recession. [.N]

* European equities fell heavily as traders took risk off the table ahead of the key report on the U.S. labor market. [.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] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.87 percent in early trade.

* Oil futures were weaker while gold prices traded stronger following the key U.S. non-farm payrolls data. [O/R][GOL/]


* Com Dev International Ltd. (CDV.TO): The satellite technology company reported a profit for the third quarter, helped in part by lower costs and a gain on foreign exchange, but said it expects revenue for the year to decline 5-7 percent. [ID:nL4E7K21K7]

* WiLan Inc WIN.TO: The technology licensing company said it had begun its patent infringement cases against Apple Inc, Dell, Hewlett-Packard and six other companies. [ID:nL4E7K21GT]

* Research In Motion RIM.TO: Big box retailer Best Buy has slashed up to $150 off the U.S. price tag for RIM’s PlayBook tablet computer for the Labor Day weekend. [ID:nN1E78021B]

* TransCanada Corp. (TRP.TO): The pipeline and power company said it seeks to reduce tolling on its mainline to bring down the cost of transporting gas from the western Canada sedimentary basin to its downstream markets by nearly a third. [ID:nL4E7K13PE]

* Enbridge Inc.(ENB.TO): Enbridge U.S. said on Thursday its Stingray natural gas pipeline in the Gulf of Mexico was experiencing downstream deliverability issues at the Barracuda and NGPL interconnects and the company would shut in gas deliveries at both points on Friday. [ID:nN1E7801Q0]

* Arctic Glacier Income fund AG_u.TO: The company said its lenders extended the waiver of covenants in its credit facility, as the debt-ridden packaged ice maker limps back to normalcy. [ID: nL4E7K21DW]


Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]

* Alter NRG NRG.TO price target cut to C$1 from C$3.25 at Raymond James

* Canacol Energy Ltd (CNE.TO) target price raised to C$1.55 from C$1.50 at TD Securities

* Dorel Industries (DIIb.TO) coverage started with sector perform rating and C$28 target price at National Bank

* Flint Energy Services Ltd FES.TO price target raised to C$18 from C$17 at CIBC; price target cut to C$18.50 from C$17.50 at TD Securities

* MAG Silver (MAG.TO) price target cut to C$14.50 from C$14.70 at Raymond James

* MCAN Mortgage Corp (MKP.TO) coverage started with sector perform rating and C$14.50 price target at National Bank

* Minco Silver Corp (MSV.TO) price target cut by C$1.30 to C$6.40; rating sector outperform at Haywood

* TD Bank (TD.TO) price target raised to C$87 from C$86 at CIBC; price target cut to C$94 from C$97; rating outperform at National Bank

* TransCanada Corp (TRP.TO) target price raised to C$47 from C$46 at TD Securities

$1=$0.98 Canadian Reporting by Kishan Nair; Editing by Jeffrey Hodgson

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