CANADA STOCKS-TSX may open higher after strong employment data

July 9 (BestGrowthStock) – Toronto’s main stock index looked set to
open higher on Friday after employment data showed Canada’s
economy created far more jobs than expected in June in a
surprising sign of strength after a raft of discouraging data.

A rise in commodity prices, including oil, also suggested a
stronger start.

Wall Street is also set for a higher open as investors
brace for the start of earnings next week. [.N]

European shares extended a rally into a fourth session with
banks among the gainers. European Central Bank President
Jean-Claude Trichet dismissed warnings that drastic and
simultaneous spending cuts planned by euro zone governments
could send the 16-country bloc back into recession.

Asian markets rose with Shanghai Composite Index posting
its biggest weekly gain this year.

Here is some news that could affect stock prices:

JOB GROWTH STRONG

Canada’s economy created far more jobs than expected in
June in a surprising sign of strength after a raft of
discouraging data, fueling expectations the central bank will
hike interest rates again this month. [ID:nN09262340]

OIL RISES

Oil rose towards $76 a barrel on Friday, heading for its
biggest weekly gain since May, after a drop in U.S. inventories
and positive economic indicators lifted risk appetite and
sentiment across markets. [O/R]

COPPER UP

Copper rose 1.7 percent in London and 1 percent in Shanghai
on Friday, supported by a rise in Asian stocks for a second day
and hopes for strong Chinese imports and a positive U.S.
earnings season. [MET/L]

GOLD STEADY

Gold held just below $1,200 an ounce on Friday as some
buyers were tempted back to the market by the metal’s fall to
six-week lows, but recovering risk appetite is undermining its
haven appeal. [GOL/]

C$ RISES VS US$

The Canadian dollar rose one percent against the U.S.
dollar on Friday, extending gains after data showed a sharp
increase in Canadian jobs. [CAD/]

Canadian stocks to watch include:

RESEARCH IN MOTION (RIM.TO: )

Research in Motion (RIM.TO: ), maker of BlackBerry e-mail
devices, said on Friday it is preparing to launch an
applications store and consumer Internet services in China, as
part of a big push into the world’s top mobile market.
[ID:nHKU000060]

TORONTO-DOMINION BANK (TD.TO: )

Toronto-Dominion Bank (TD.TO: ), Canada’s second-biggest
lender, said on Thursday it has acquired Calgary-based Ross
Smith Sousa Advisors to boost its investment banking presence
in the oil and gas sector. [ID:nN08234282]

LABOPHARM INC (DDS.TO: )

Labopharm Inc (DDS.TO: ) said on Friday its lender, Hercules
Technology Growth Capital (HTGC.O: ), agreed to amend its debt
agreement to extend both the period of interest-only payments
and the maturity date of its loan by six months.
[ID:nSGE6680F8]

WEST 49 INC (WXX.TO: )

West 49 (WXX.TO: ) said on Friday U.S.-based action sports
retailer Zumiez Inc (ZUMZ.O: ) will be ready to better an offer
for the Canadian retailer that was made by Australian clothing
retailer Billabong International Ltd (BBG.AX: ), subject to a
satisfactory due diligence review. [ID:nWNAB4413]

CROMBIE REIT (CRR_u.TO: )

Crombie Real Estate Investment Trust (CRR_u.TO: ) said on
Thursday it planned to acquire 11 retail properties worth C$102
million ($99 million) from Sobeys, a unit of Empire Co Ltd
(EMPa.TO: ), to boost its presence in Western Canada and Ontario.
[ID:nSGE6670J2]

RESEARCH ROUNDUP

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

* Crocodile Gold Corp (CRK.TO: ) price target cut to C$2.40
from C$2.70; rating outperform Raymond James

* Bird Construction Income Fund (BDT_u.TO: ) price target cut
to C$35 from C$36 by Macquarie

($1=$1.03 Canadian)
(Reporting by Bangalore newsroom, editing by Bhaswati
Mukhopadhyay and Jeffrey Hodgson)

CANADA STOCKS-TSX may open higher after strong employment data