December 7, 2007 / 9:50 PM / 11 years ago

UPDATE 2-Toronto stocks eke out modest gain

(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) continued its slide amid worries over its exposure to the troubled U.S. subprime mortgage sector.

CIBC was the biggest net decliner by weight on the day, sagging C$2.85, or 3.5 percent, to C$79.55 after a drop of more than 5 percent on Thursday. The financial sector as a whole, however, was up 0.1 percent.

The heavyweight energy sector was down 0.1 percent as the price of oil fell $1.95 to $88.28 a barrel.

Suncor Energy (SU.TO) fell 8 Canadian cents, or 0.1 percent, to C$103.07 while Canadian Natural Resources (CNQ.TO) was down 33 Canadian cents, or 0.5 percent, at C$67.76.

$1=$1.01 Canadian Reporting by Leah Schnurr; Editing by Rob Wilson

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