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CANADA STOCKS-TSX gains with commodities after U.S. jobs miss

Published 2016-09-02, 04:38 p/m
© Reuters.  CANADA STOCKS-TSX gains with commodities after U.S. jobs miss
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(Adds comment, updates prices to close)

* TSX ends up 111.79 points, or 0.76 percent, at 14,795.70

* All 10 of index's main groups rise; nearly 5 risers per decliner

* Index adds 1.1 pct on week, sharpest weekly gain since mid-July

By Alastair Sharp

TORONTO, Sept 2 (Reuters) - Canada's main stock index pushed higher on Friday with mining and energy stocks big beneficiaries of a weaker-than-expected U.S. jobs report that weighed on the U.S. dollar and, in turn, boosted commodity prices.

The heavyweight energy group climbed 1.2 percent as crude settled up nearly 3 percent, after slower U.S. employment growth knocked investor expectations that the Federal Reserve might hike interest rates this month. September rate hike assumption is now off the table, so it's put some pressure on the U.S. dollar which gave the market a little bit more of a lift towards the commodities, particularly gold," said Sid Mokhtari, market technician and director of institutional equity research at CIBC World Markets.

Goldcorp Inc G.TO rose 2 percent to C$20.83, Barrick Gold Corp ABX.TO advanced 1.2 percent to C$23.59, and smaller Yamana Gold Inc YRI.TO jumped 6.6 percent to C$5.94.

The materials group, which includes base metals miners and fertilizer companies as well as gold miners, added 2.4 percent. GOL/ MET/L

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 111.79 points, or 0.76 percent, at 14,795.70. It gained 1.1 percent over the week, its biggest weekly gain since mid-July.

All 10 main index groups ended higher, with almost five risers for every falling stock.

The most influential movers included Suncor Energy Inc SU.TO , which rose 1.2 percent to C$35.63, and Canadian Natural Resources Ltd CNQ.TO , which advanced 1.4 percent to C$41.36.

Of the few declining stocks, Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO weighed most heavily, down 2 percent to C$37.34.

Canada's trade deficit in July unexpectedly shrank on stronger non-energy exports, a sector the Bank of Canada says is crucial to helping revive an economy hit by low oil prices. ECONCA

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