(Adds portfolio manager comment, details; updates prices)
* Seven of the TSX's 10 main groups rise
By Alastair Sharp
TORONTO, Jan 8 (Reuters) - Canada's main stock index
advanced tentatively in early trade on Thursday after seven days
of losses as financial and industrial stocks rose, although weak
oil prices kept the pressure on energy stocks.
In a boost for sentiment, the country added more jobs than
anticipated in December, including modest gains in the
struggling manufacturing and natural resources sectors.
U.S. jobs data also produced a positive surprise.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE technically entered a bear market on Wednesday, down
more than 20 percent from the record high it hit in September
2014.
At 10:40 a.m. EST (1540 GMT), it was up 14.18 points, or
0.11 percent, at 12,462.39, just outside of bear territory of
12,419.80. Seven of its 10 main groups were higher.
Six of the seven biggest advancers were financials, with the
group up 0.6 percent overall and Sun Life Financial Inc SLF.TO
rising 1.2 percent to C$40.32.
Industrials rose 0.5 percent, helped by a 1.3 percent gain
to C$31.31 for Canadian Utilities Ltd CU.TO after it raised
its dividend by 10 percent. Canadian National
Railway CNR.TO rose 0.7 percent to C$72.43.
The index had fallen earlier in the week, along with most
global equity markets, as the new year kicked off with wild
gyrations in the Chinese stock market that fanned fears of
broader malaise.
"I do think the last four trading days were an anomaly of
fear and we're going to have a significant rebound in stocks,"
said Barry Schwartz, a portfolio manager at Baskin Financial
Services. "But I do think 2016 will be a challenging year."
The most influential decliners were energy stocks, which
retreated 0.8 percent, and the materials group, which includes
precious and base metals miners and fertilizer companies and
lost 0.8 percent.
Canadian Natural Resources CNQ.TO fell 1.3 percent to
C$27.18 as oil prices slipped back to near 11-1/2-year lows,
amid persistent global oversupply and a bleak demand outlook.
O/R
Goldcorp Inc G.TO declined 2.6 percent to C$17.48 and
Barrick Gold Corp ABX.TO fell 2.5 percent to C$12.03 as
bullion pulled back from a 9-week high following the U.S. jobs
report that boosted the U.S. currency. GOL/
(Editing by Bernadette Baum)