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CANADA STOCKS-TSX jumps 1 pct on surge in jobs data, oil rise

Published 2016-04-08, 10:19 a/m
© Reuters.  CANADA STOCKS-TSX jumps 1 pct on surge in jobs data, oil rise
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* TSX up 135.8 points, or 1.02 percent, at 13,402.24
* Nine of the TSX's 10 main groups rise

TORONTO, April 8 (Reuters) - Canada's main stock index
jumped 1 percent on Friday as higher crude oil prices supported
energy stocks and unexpectedly robust jobs data added to
evidence of a pick-up in the domestic economy.
Canada added far more jobs than expected last month as
service sector hiring accelerated and the unemployment rate fell
from a three-year high, data showed.
Oil prices rose, lifted by hopes a punishing global excess
could be nearing a tipping point and firm U.S. and German
economic indicators pointed to growth in fuel demand. O/R
The most influential movers on the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE were energy and bank stocks,
with Royal Bank of Canada RY.TO rising 1.3 percent to C$74.58,
and Canadian Natural Resources Ltd CNQ.TO up 2.9 percent to
C$35.37.
The energy group climbed 2.5 percent and financials gained
1.2 percent.
At 9:58 a.m. EDT (1358 GMT), the index was up 135.8 points,
or 1.02 percent, at 13,402.24.
Nine of the index's 10 main groups were in positive
territory, with four gainers for every decliner. Healthcare
stocks fell.
Valeant Pharmaceutical International Inc VRX.TO was one of
the heaviest weights on the index, down 4 percent at C$44.84
after sharp gains earlier in the week. Valeant said on Thursday
its lenders had given the company an extra month to file its
annual report, offering breathing room as it tries to win back
investors.
The index's overall rebound eclipsed most of the losses
accumulated this week, putting it on track to notch a 0.2
percent slip for the week.
Industrials rose 1.0 percent, with Canadian National Railway
Co CNR.TO adding 1.5 percent to C$81.31.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.7 percent.
U.S. crude CLc1 prices were up 5.1 percent to $39.17 a
barrel, while Brent LCOc1 added 4.2 percent to $41.08.
Gold and copper prices were marginally higher. GOL/ MET/L

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