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CANADA STOCKS-TSX rises as resource stocks gain after U.S. jobs data

Published 2016-09-02, 10:03 a/m
© Reuters.  CANADA STOCKS-TSX rises as resource stocks gain after U.S. jobs data
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(Adds details from early trade, updates prices)

* TSX up 114.09 points, or 0.78 percent, to 14,798

* Nine of the TSX's 10 main groups rise; 10 risers per decliner

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

The heavyweight energy group climbed 1.4 percent as crude rose about 2 percent, after U.S. employment growth eased more than expected last month after two straight months of robust gains, which could rule out an interest rate hike by the Federal Reserve this month. most influential movers on the index 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$41.33.

At 9:41 a.m. EDT (1341 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 114.09 points, or 0.78 percent, to 14,798.

There were 10 risers for every falling stock, with nine of the index's 10 main groups in positive territory.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.9 percent, as the weaker greenback also boosted prices for gold and copper. GOL/ MET/L

Barrick Gold Corp ABX.TO advanced 2.2 percent to C$23.82 and Goldcorp Inc G.TO rose 2.7 percent to C$20.97. Diversified miner Teck Resources advanced 3.5 percent to C$22.37.

The financials group gained 0.4 percent and industrials rose 0.7 percent.

Of the few declining stocks, Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO weighed most heavily, down 3.1 percent to C$36.93.

U.S. crude CLc1 prices were up 2.5 percent to $44.23 a barrel, while Brent LCOc1 added 2.6 percent to $46.63. O/R

Gold futures GCc1 rose 0.8 percent to $1,322.2 an ounce, while copper prices CMCU3 advanced 0.2 percent to $4,639 a tonne. GOL/ MET/L

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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