UPDATE 3-Toronto stocks scrape out small gain on jobs data

Fri Dec 7, 2007 5:19pm EST
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By Leah Schnurr

TORONTO Dec 7 (Reuters) - The Toronto Stock Exchange's main index closed with a small gain on Friday as buoyant jobs news eased worries over the health of the U.S. economy.

Most of the TSX's sectors advanced after better than expected Canadian employment figures, hoping they were a sign of resilience in the economy in the face of ongoing troubles in the U.S. mortgage and housing sectors.

Modest jobs growth in the United States also helped ease fears of a recession south of the border.

"We had pretty decent gains over past two days, so I think investors were quite satisfied with that and just seeing where we go from here," said Elvis Picardo, investment strategist at Northern Securities Inc. in Vancouver, British Columbia.

The S&P/TSX composite index .GSPTSE closed up 13.17 points, or 0.1 percent, at 13,862.97 with seven of its 10 main groups higher.

The index jumped 270 points in the previous two sessions and is up 1.3 percent for the week.

Shares of Imax Corp IMX.TO jumped to their highest point in over a year after the giant-screen theater company said it had made a deal to install 100 digital projection systems at AMC Entertainment Inc AC.N theaters in the United States.   Continued...