CANADA STOCKS-TSX may open higher on better US job data

Nov 5 (BestGrowthStock) – Toronto’s main stock index looked set to
open higher on Friday after payroll data from the United
States, Canada’s biggest trading partner, came in much better
than expected, negating a soft Canadian job report.

FACTORS TO WATCH

* Canadian equity futures (0#SXF:: ) pointed to a higher
open.

* The Canadian dollar hit a session high against its U.S.
counterpart shortly after data showed U.S. payrolls surged in
October, reversing losses suffered by the currency after
unexpectedly soft domestic jobs data. [CAD/]

* U.S. stock index futures turned positive on Friday after
data showed U.S. non-farm and private payrolls rose
significantly more than expected in October. [.N]

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, rose 0.22 percent in early trade.

* Oil eased from a two-year high, but losses were limited
by the new round of U.S. economic stimulus, which has boosted
the appeal of commodities as an asset class in an environment
of a weak dollar. [O/R]

* Gold hit a fresh record around $1,394 an ounce, before
turning lower as the dollar firmed and the U.S. Federal
Reserve’s decision to buy more government bonds earlier this
week improved risk sentiment. [GOL/]

* Copper approached record highs as the dollar dropped
after a U.S. decision to print more currency raised the allure
of risky assets such as commodities, while focus shifted to a
key U.S. jobs report. [MET/L]

CANADIAN STOCKS TO WATCH

* Telus Corp (T.TO: ): The company posted a 12 percent dip in
third-quarter profit (Read more your timing to make a profit.) on Friday, but beat expectations, boosted
by strong wireless growth and record television subscriber
additions. [ID:nN05280098]

* MEGA Brands Inc. (MB.TO: ): The toymaker reported on Friday
a 77 percent decline in third-quarter profit (Read more your timing to make a profit.), but said net
sales of toys product lines rose. [ID:nN0485704]

* Rogers Communications (RCIb.TO: ): The cable giant on
Thursday said it paid C$75 million to increase its stakes in
two related cable companies but said it does not intend to seek
control of them. [ID:nN04239625]

* Magna International (MG.TO: ): The auto-parts maker
reported third quarter earnings on Thursday that soundly beat
analysts’ expectations as sales benefited from the rebound in
North American auto production. [ID:nN04228491]

* Vermilion Energy Inc. (VET.TO: ): The company posted
third-quarter earnings that missed estimates, hurt by lower
production and higher expenses, but said it expects to meet or
exceed its full-year production outlook.[ID:nSGE6A408L]

* DundeeWealth Inc. (DW.TO: ): The company said on Thursday
it will boost its annual dividend and replace quarterly
payments with monthly ones. [ID:nN04241108]

* Denison Mines (DML.TO: ): The uranium producer reported a
sharply lower third-quarter net loss on Thursday compared with
a year earlier when its results were hit by an impairment
charge. [ID:nN04227219]

* Bonavista Energy Trust (BNP_u.TO: ): The company, one of
North America’s largest energy trusts, posted third-quarter
results that beat market estimates, helped by an increase in
production. [ID:nSGE6A20L2]

* Primaris Retail Real Estate Investment Trust (PMZ_u.TO: ):
The company which owns mid-market retail centers in major
cities and shopping malls in secondary cities reported on
Thursday a 28 percent rise in its quarterly funds from
operations, helped by lower expenses and contributions from
recent property acquisitions. [ID:nSGE6A30NJ]

* Flint Energy Services Ltd. (FES.TO: ): The oilfield service
firm reported on Thursday third-quarter profit (Read more your timing to make a profit.) which trailed
analysts’ expectations on weak facility infrastructure revenue,
which the company said would continue to remain soft going into
the fourth quarter. [ID:nSGE6A30O2]

ANALYST RECOMMENDATIONS

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

* Armtec Infrastructure Income Fund (ARF_u.TO: ) price target
cut to C$17.50 from C$20; keeps market perform rating at
Raymond James

* Bonavista Energy Trust (BNP_u.TO: ) price target raised to
C$27.50 from C$25; keeps outperform rating at Raymond James

* Calloway REIT (CWT_u.TO: ) price target raised to C$25 from
C$24.75; keeps market perform rating at Raymond James

* Fibrek Inc (FBK.TO: ) rating cut to underperform from
market perform at Raymond James

* Mccoy Corp (MCB.TO: ) price target raised to C$4.75 from
C$4.25; keeps strong buy rating at Raymond James

* Wajax Income Fund (WJX_u.TO: ) price target raised to
C$37.50 from C$34.50; keeps strong buy rating at Raymond James

($1=$1.00 Canadian)
(Reporting by Bangalore Newsroom; Editing by Jeffrey Hodgson)

CANADA STOCKS-TSX may open higher on better US job data