Weaker than expected jobs numbers in Canada and the United States may drag stocks Friday.

Canada’s unemployment rate rose by 0.2 percentage points to 6% in March, pushed up by more people entering the labour market, Statistics Canada said today

Canada’s economy added 14,600 new jobs in March. Economists had been projecting a gain of 15,000 positions.

The Canadian dollar opened at US99.42¢, off 0.14 cent.

Meanwhile, nonfarm payrolls fell 80,000 in March, the U.S. Labour Department said today, its biggest decline in five years,

The U.S. unemployment rate popped to 5.1% in March from 4.8% in the prior month. That’s the highest unemployment rate since September 2005.

Wall Street economists had expected a 50,000 decline in payrolls and a 5% unemployment rate.

In today’s banking news, Luqman Arnold, an ex-president of UBS, called for the Swiss banking group to be broken up. Arnold said in a letter that UBS should further strengthen its capital base by selling its asset management business and argued for the legal separation of its investment-banking arm from the core private-banking operations.

Oil futures rose 96 to US$104.79 a barrel.

Overseas, the Nikkei index in Tokyo closed down 0.7%, shedding 96.68 points to 13,293.22 as a three-day winning streak ended on selling of steel and auto stocks.

Hong Kong’s Hang Seng index was up 1.6%/

European markets showed modest gains, with the FTSE 100 rising 34.6 points or 0.6% to 5,925.9 early in the afternoon in London, and the German DAX and Paris CAC 40 each up by about 0.3%.

Markets posted modest gains Thursday as positive earnings from tech giant Research in Motion and a second day of testimony from U.S Federal Reserve Chairman Ben Bernanke quelled investor anxiety.

The S&P/TSX composite index closed up 37.15 points, or 0.28%, at 13,551.29.

The information tech group gained 1.19%, pushed up throughout the day by RIM shares, which traded heavily and closed up $5.79, or 4.92%, at $123.42. RIM announced late yesterday that fourth quarter net profits hit US$412.5 million or 72¢ per diluted share, up from US187.4 million, or 33¢ per share, a year ago.

On the day of its annual meeting, TD Bank Financial Group shares closed up 21¢, or 0.33%, at $64. TD CEO Ed Clark told investors that the bank’s recently closed acquisition of U.S.-based Commerce Bancorp remains a positive step forward despite ongoing struggles in U.S. markets.

The junior S&P/TSX Venture composite index closed up 4.18 points, or 0.17%, at 2,509.03.

In his second day of testimony to Congress, Fed chief Ben Bernanke said the central bank hopes to reclaim most, if not all, of the money it loaned to prop up the battered Bear Stearns. His optimism cheered investors and U.S. markets closed higher.

The Dow Jones industrial average gained 20.20 points, or 0.16%, to end at 12,626.03. The S&P 500 moved ahead 1.78 points, or 0.13%, to close at 1,369.31.

Meanwhile, the tech-heavy Nasdaq composite index added 1.90 points, or 0.08%, to 2,363.30.