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Stockhouse @ the Bell: Stocks tumble on jobs reports

Stockhouse Editorial
0 Comments| April 5, 2013

Today in the markets

U.S. stocks fell Friday after the Labour Department reported that the economy only managed to crank out 88,000 jobs last month, even as the jobless rate declined 0.1% to 7.6%.

Canadian stocks were lower after Statistics Canada said the economy shed 54,500 full time jobs in March, raising the unemployment rate by 0.2% to 7.2%.

The S&P/TSX Composite was down 31.20 points to 12,331.85, while the TSX Venture Exchange gained 15.13 points to close at 1,041.85.

Active stocks included Facebook Inc. (NASDAQ: FB, Stock Forum), which rose 1.2% to $27.39. The social network hosted an event on Thursday at which it unveiled a new piece of software called Home for Android-based smartphones. Argus Research upgraded Facebook to a buy rating on Friday.

In Canada, The Canada Pension Plan Investment Board is throwing its support behind management at Agrium Inc. (TSX: T.AGU, Stock Forum) (NYSE: AGU, Stock Forum) in the fertilizer giant's proxy fight with Jana Partners LLC. The board, which invests on behalf of the Canada Pension Plan, says U.S.-based Jana hasn't made a compelling case for change at Agrium's board of directors. 

Agrium eased 0.28% to $97.74.

For news about small stocks that made big moves in Friday’s trading, please read the

Stockhouse Canadian Small and Micro-cap Stock Report


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