CANADA STOCKS-TSX at record high after U.S. jobs data
* TSX up 28.73 points, or 0.19 percent, at 15,238.52 * Seven of 10 main index sectors advance * Gold miners slip with the price of bullion By John Tilak TORONTO, July 3 (Reuters) - Canada's main stock index hit an all-time high after a report indicating momentum in the U.S. job market boosted appetite for equities and drove gains in most major sectors. However, the strength in stock markets and a rise in the U.S. dollar fueled a decline in the price of bullion and weighed on gold-mining shares, limiting the broader market's gains. Government figures showed a jump in U.S. employment growth and a drop in the unemployment rate, suggesting the world's biggest economy was on its way to overcoming a winter slowdown. "The steadying, grinding, yet measurably positive recovery in the United States continues," said Stephen Wood, chief market strategist, North America, at Russell Investments. "It appears that the slow economic recovery has gotten traction in the labor markets. "I'm not convinced that the data so far is going to knock the (Federal Reserve) off its policy path," he added. "The taper will continue, and quantitative easing will be sewn up and put to bed by the end of the year." The Toronto Stock Exchange's S&P/TSX composite index was up 28.73 points, or 0.19 percent, at 15,238.52, after reaching as high as 15,244.12 earlier in the session. The Canadian benchmark index is now up about 12 percent this year. Seven of the 10 main sectors on the index were higher on Thursday. Financials, the index's most heavily weighted sector, climbed 0.7 percent. Royal Bank of Canada added 0.7 percent to C$77.53, and Bank of Nova Scotia gained 0.8 percent to C$71.89. The telecoms sector was up 0.5 percent, with BCE Inc rising 0.8 percent to C$48.57 and Telus Corp advancing 0.6 percent to C$39.73. But gold-mining shares gave back 1.4 percent. Goldcorp Inc slipped 1.7 percent to C$29.25, and Barrick Gold Corp lost 0.9 percent to C$19.40. (Editing by Dan Grebler)
© Thomson Reuters 2017 All rights reserved.