UPDATE 2-Toronto stocks eke out modest gain

Fri Dec 7, 2007 4:49pm EST
 
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(Updates with official closing numbers, details)

TORONTO Dec 7 (Reuters) - The Toronto Stock Exchange's main index saw 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 data, as investors hoped this pointed to resilience in the face of ongoing troubles in the U.S. mortgage and housing sectors.

Modest jobs growth in the U.S. also helped ease fears of a recession south of the border.

The S&P/TSX composite index .GSPTSE closed up 13.17 points, or 0.1 percent, at 13,862.97 with seven of the TSX's 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 U.S.

IMAX closed up C$2.63, or 56 percent, at C$7.33.

On the downside, Canadian Imperial Bank of Commerce (CM.TO: Quote) continued its slide amid worries over its exposure to the troubled U.S. subprime mortgage sector.   Continued...