|
(AFX UK Focus)
2009-11-06 14:12
CANADA STOCKS-Toronto stocks may fall on soft jobs data |
|---|
| Article layout: raw |
|
TORONTO, Nov 6 (Reuters) - Toronto's main stock index may fall on Friday after a pair of disappointing jobs reports from Canada and the United States suggested the economic recovery may be bumpy. Canada's corporate results calendar is also a key focus, as some of its biggest companies in the energy, airline, and telecoms sector post quarterly statements. The S&P/TSX composite index finished up 0.99 percent at 11,180.70 on Thursday, with all of its 10 main groups higher. Here is some of the news that may affect the market:
JOBS DATA Canada's economy unexpectedly lost 43,200 jobs in October after two months of gains, pushing the jobless rate up to 8.6 percent from 8.4 percent. U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed on Friday, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.
SUNCOR Suncor Energy Inc's third-quarter operating profit fell 64 percent as oil and gas prices sank in its first quarterly reporting period including results from Petro-Canada assets it acquired in August. Suncor became Canada's biggest energy company following the takeover.
TELUS Telus Corp, Canada's No. 2 phone company, posted a lower quarterly profit on Friday and cut its earnings outlook for the year because of the weak economy.
AIR CANADA Air Canada, the country's biggest carrier, reported a third-quarter loss on an adjusted basis, hurt by lower passenger revenue, and said it does not expect to see a full recovery for another 12 months to 18 months.
AGRIUM U.S. fertilizer maker CF Industries said its board rejected rival Agrium Inc's sweetened bid worth about $4.5 billion, arguing the proposal substantially undervalues the company. CF has been fending off Agrium's hostile bid since February.
COMMODITY PRICES Gold rose, boosted by the prospect of central banks buying the precious metal to diversify their reserves, while oil fell 2.6 percent to below $78 a barrel
MAGNA Magna International is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co's European operations, the auto parts maker's co-CEO said. The company also unexpectedly posted a profit, driven by cost cuts and restructuring initiated late last year in response to the chaos in the auto market.
COMPANY RESULTS IN BRIEF
RESEARCH ROUNDUP: CANADIAN INSURERS The following is a selection of research actions on Canadian insurers after two of Canada's big life insurers unveiled surprise losses on Thursday, while a third reported a smaller-than-expected profit.
For other research actions on other Canadian companies reported by Reuters on Friday, please double click (Reporting by Ka Yan Ng; Editing by James Dalgleish) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report........................................ Canadian dollar and bonds report................... Top News: Canada .................................... Today in Canada..................................... Canadian company news ................................ Reuters global stocks poll (Canada)... FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide...................... S&P/TSX Composite index ............................. S&P/TSE Venture composite index ..................... TSX most active....................................... Venture Exchange most active........................... Top TSX pct gainers................................... Top TSX pct losers.................................... S&P/TSX 60 index ..................................... 52 week highs: TSX............... Venture.............. 52 week lows: TSX............... Venture.............. Canadian dollar quote..................... FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ..... EUROPEAN REPORT ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Foreign exchange...................................... Oil.................................................... US Treasuries.......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ Keywords: MARKETS CANADA STOCKS Keywords: MARKETS CANADA STOCKS (kayan.ng@thomsonreuters.com; Reuters Messaging: kayan.ng.reuters.com@reuters.net; Tel: 416-941-8109)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. |
| Stocks |
| Article layout: raw |
|