(Adds economic indicator results)
Aug 5 (Reuters) - Canada's main stock index was set to start higher on Friday, mirroring gains in U.S. markets after better-than-expected payrolls data, despite an increase in Canadian unemployment.
U.S. employment increased more than expected in July and wages picked up, which should bolster expectations of an acceleration in economic growth and raise the probability of an interest rate hike from the Federal Reserve this year. economy dropped an unexpected 31,200 jobs in July, sending the jobless rate up to 6.9 percent, data from Statistics Canada showed. futures on the S&P TSX index SXFc1 were up 0.27 percent at 8:30 a.m. ET.
Canada posted a larger-than-expected trade deficit of C$3.63 billion ($2.79 billion) in June, compared with a revised C$3.50 billion deficit in May, as imports rose 0.8 percent, according to Statistics Canada data. ID:nSCL5JEC83
The seasonally adjusted Ivey Purchasing Managers Index is also expected at 10:00 a.m. ET. ECONCA
Canada's main stock index notched a gain on Thursday as surging oil prices boosted energy stocks, while poor earnings hurt insurer Manulife Financial Corp MFC.TO and the exit of a major investor weighed on Canadian Pacific Railway 's CP.TO stock. ID:nL1N1AL203
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.43 percent at 8:30 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.28 percent and Nasdaq 100 e-mini futures NQc1 were up 0.27 percent. .N
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TOP STORIES TOP/CAN
Canadian plane and train maker Bombardier Inc BBDb.TO reported a slightly bigger-than-expected quarterly loss as it delivered fewer business jets and margins were negative in its commercial aircraft division, which includes CSeries jets. Corp T.TO TU.N , one of Canada's three biggest telecom providers, reported a higher-than-expected quarterly profit, helped by lower operating expenses. ID:nL4N1AM0Z2
Canadian auto parts maker Magna International Inc MG.TO MGA.N reported a 3.7 percent rise in quarterly profit, helped by strong vehicle sales in North America and Europe. ID:nL4N1AM0LX
COMMODITIES AT 8:30 a.m. ET COM/WRAP
Gold futures GCc1 : $1,346.7; -0.89 percent GOL/
US crude CLc1 : $41.77; -0.38 percent O/R
Brent crude LCOc1 : $44.16; -0.29 percent O/R
LME 3-month copper CMCU3 : $4,804.5; -0.55 percent MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
WSP Global Inc WSP.TO : RBC raises to "outperform" from "sector perform"
Baytex Energy Corp BTE.TO : FirstEnergy (NYSE:FE) raises to "outperform" from "market perform"
Veresen Inc VSN.TO : BMO raises to "market perform" from "underperform"
U.S. ECONOMIC DATA ON FRIDAY
0830 Non-farm payrolls for Jul: Actual 255,000; Prior 287,000
0830 Private payrolls for Jul: Actual 217,000; Prior 265,000
0830 Manufacturing payrolls for Jul: Actual 9,000; Prior 14,000
0830 Government payrolls for Jul: Actual 38,000; Prior 22,000
0830 Unemployment rate for Jul: Actual 4.9 pct; Prior 4.9 pct
0830 Average earnings mm for Jul: Actual 0.3 pct; Prior 0.1 pct
0830 Average workweek hours for Jul: Actual 34.5 hrs; Prior 34.4 hrs
0830 Labor force participation for Jul: Actual 62.8 pct; Prior 62.7 pct
0830 U6 underemployment for Jul: Actual 9.7 pct; Prior 9.6 pct
0830 International trade mm for Jun: Actual -$44.51 bln; Prior -$41.1 bln
1030 ECRI Weekly Index: Prior 138.0
1030 ECRI weekly annualized: Prior 8.0 pct
1300 Dallas Fed PCE for Jun: Prior 1.9 pct
1500 Consumer credit for Jun: Expected 17.00 bln; Prior 18.56 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA ($1= C$1.32)