CANADA STOCKS-Jobs data helps TSX add to 3 days of gains

* TSX rises 50.52 points to 11,483.89

* Materials, financials lead index higher
(Updates with details, commentary) (Read more stock market commentary today.

By Claire Sibonney)

TORONTO, July 9 (BestGrowthStock) – Toronto’s main stock index
edged higher on Friday morning, adding to three straight
sessions of gains, after stunning domestic employment data
boosted investor confidence and bank shares, while strong metal
prices pushed up the materials sector.

Canada’s economy created six times more jobs than forecast
in June, a near-record gain that pressures the central bank to
raise interest rates again this month, even as cracks in the
U.S. recovery threaten to cool the country’s scorching growth.
[ID:nN09261751]

“Those good employment numbers have obviously reassured the
market about growth,” said Gavin Graham, global strategist at
Excel Funds Management.

As well, gold prices rose back above $1,210 an ounce as a
global stock market rally showed signs of running out of steam,
while copper was up nearly 2 percent as demand prospects
brightened, sending materials shares 2.1 percent higher. [GOL/]
[MET/L]

Among the top gainers, Barrick Gold Corp (ABX.TO: ) was up
2.3 percent at C$45.42, while Teck Resources (TCKb.TO: ) rose 2.2
percent to C$35.20.

Financial stocks, which can be sensitive to interest rate
expectations, gained 0.3 percent after a wobbly start, as the
positive prospects for growth outweighed any negative
implications of higher borrowing costs.

Royal Bank of Canada (RY.TO: ) was up 0.6 percent at C$53.39,
while Bank of Nova Scotia (BNS.TO: ) added 0.6 percent to
C$49.98.

At 10:35 a.m. (1435 GMT), the Toronto Stock Exchange’s
S&P/TSX composite index (.GSPTSE: ) was up 50.52 points, or 0.4
percent, at 11,483.89. Five of the 10 main sectors were
higher.

On the downside, energy shares slid 0.2 percent, despite a
rise in the price of oil, after an influential U.S. lawmaker
called on Washington to block a TransCanada (TRP.TO: ) pipeline
that would supply U.S. refineries with Canada’s oil sands
crude. [O/R] [ID:nN06111247]

Henry Waxman, chairman of the House Energy and Commerce
committee, urged the U.S. State Department to block the planned
Keystone XL pipeline, arguing that the “dirtiest” source of
crude undermined efforts to battle global warming.

“It seems a little odd with the Gulf of Mexico spill going
on to be protesting about the possible C02 emissions from oil
sands,” said Graham.

Shares of TransCanada dropped 0.3 percent to C$36.58, while
Suncor Energy (SU.TO: ), Canada’s biggest oil company, was down
0.1 percent at C$32.84.

($1=$1.03 Canadian)
(Reporting by Claire Sibonney; editing by Rob Wilson)

CANADA STOCKS-Jobs data helps TSX add to 3 days of gains