CANADA STOCKS-TSX climbs on U.S. jobs data, energy shares

Fri May 8, 2015 4:28pm EDT
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(Adds portfolio manager comment, updates figures)

* TSX up 81.20 points, or 0.54 percent, at 15,170.02

* Eight of the index's 10 main groups rise

By Solarina Ho and John Tilak

TORONTO, May 8 (Reuters) - Canada's main stock index advanced on Friday as upbeat economic data reflected strength in the U.S. labor market and shares of energy producers climbed with the price of U.S. crude oil.

In the United States, all three main stock indexes, the Dow Jones industrial average, the S&P 500 and the Nasdaq Composite, were up over 1 percent.

U.S. data showed employment growth rebounded in April with 223,000 new jobs and a drop in the unemployment rate, signs of a pickup in the economy after a lackluster first quarter.

"It looks like the market was pretty pleased with the U.S. jobs report this morning, and that's led to some risk appetite," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners+ of Richardson GMP Ltd, which manages about C$27 billion in assets.

"Energy has been on a nice run, so I wouldn't be surprised to see a pullback," he added. "But relative to the rest of the market, energy remains very cheap."   Continued...