3 Min Read
(Adds details on jobs reports; updates prices with early trade)
* TSX up 146.48 points, or 1.04 percent, at 14,280.94
* Six gainers for every decliner; 6 sectors up more than 1 pct
TORONTO, July 8 (Reuters) - Canada's main stock index rose on Friday as heavyweight financial and energy stocks gained after U.S. jobs growth accelerated rapidly in June while Canadian job growth stalled and fewer people sought work.
The gains were broad and significant with six of the index's 10 main sectors notching gains of more than 1 percent as investors focused on the bumper number from the much larger economy of the United States, Canada's main trading partner.
There were five gainers for every decliner.
The index was on track for a 1.5 percent gain from last Thursday's close. Canada's markets were closed last Friday.
At 10:21 a.m. EDT (1421 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 146.48 points, or 1.04 percent, at 14,280.94.
The most influential gainers included Canadian National Railway Co, which rose 2.1 percent to C$78.39, and its rival Canadian Pacific Ltd, which advanced 2.5 percent to C$173.65.
Railway earnings are linked to the performance of the broader economy, rising as growth boosts demand for raw materials and consumer goods.
The U.S. economy posted its largest job gains in eight months, but the Statistics Canada jobs data released on Friday underlined the challenges facing an economy trying to adjust to weak oil prices that have depressed demand and led to layoffs in the energy industry.
Still, industrials rose 1.6 percent, the energy group climbed 1.2 percent, and financials gained 1.4 percent.
Royal Bank of Canada added 1.5 percent to C$77.88, Toronto-Dominion Bank advanced 1.1 percent to C$55.46 and Bank of Nova Scotia rose 1.5 percent to C$63.82.
Insurers also rose, with Manulife Financial up 1.6 percent to C$17.18 and Sun Life Financial 2 percent higher at C$41.58. Brookfield Asset Management gained 2.3 percent to C$44.3.
Crude prices bounced back from two-month lows but benchmark Brent was on course for its largest weekly decline since January as economic worries weigh on oil.
Canada's largest oil and gas producer Suncor Energy Inc gained 1.4 percent to C$36.58, and Canadian Natural Resources advanced 1.3 percent to C$40.055. (Reporting by Alastair Sharp; Editing by Bill Trott)