The Toronto stock index looked set to open lower on Friday following sharp losses in global equity and commodity markets, as a slew of economic data from euro-zone and China fueled worries about global recovery.
Canada stock futures traded down 1.02% with about half an hour before the start of trading, indicating a rough ride for equities Friday.
The S&P/TSX Composite Index gained 78.58 points Thursday to end a brutal month of May at 11,511.80.
This morning brings news that Cequence Energy Ltd. said it will buy Open Energy in an all-stock deal that values the oil and gas company at about $97 million, as it looks to tap into liquids-rich natural gas assets in Alberta.
Research In Motion is free to use the BBM moniker for its popular BlackBerry Messenger instant messaging service after a court ruled the use did not infringe on the trademark of a company that measures Canadian television and radio audiences.
ON BAYSTREET
The TSX Venture Exchange eked up 0.30 points Thursday to 1,289.73. The Nasdaq Canada index regained 0.70 points to 356.43
The Canadian dollar traded this morning down 0.92 cents to 95.89 cents U.S.
ON WALLSTREET
U.S. employment numbers have come in way below estimates, setting the stage for more worries about the strength of the U.S. economy and adding to the early morning downdraft on stock futures.
Futures for the Dow Industrials plummeted 194 points, or 1.6%, to 12,189, half an hour before the opening bell, while futures for the S&P 500 ditched 25 points, or 1.9%, to 1,284.20. Futures for the tech-rich Nasdaq fell 45 points, or 1.8%, to 2,479.
Non-farm payrolls rose by an anemic 69,000 jobs, compared to expectations of a rise of about 155,000 jobs, while the U.S. jobless rate increased to 8.2%, from 8.1%. Economists had expected the unemployment rate to remain unchanged.
European stocks fell in morning trading. Britain's FTSE 100 shed 0.9%, while the DAX in Germany tumbled 2.7% and France's CAC 40 dropped almost 2%.
Asian markets ended mixed. The Shanghai Composite closed slightly above breakeven, while the Hang Seng in Hong Kong slid 0.4% and Japan's Nikkei fell 1.2%.
Oil for July delivery slid $2.14 to $84.39 a barrel.
Gold rallied to a gain of $15 to $1,575 U.S. an ounce, indicating that some investors are betting the dismal job figures will be enough to encourage the Federal Reserve to launch another round of monetary easing at its June meeting.
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