TSX hits record high, shrugs off downbeat jobs report

A jump in energy stocks helped Canada's main stock index hit an all-time high on Friday, with the index shrugging off data showing the economy added far fewer jobs than expected in July.

At 9:37 a.m. ET (1337 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 0.34%, at a record high of 20,443.81.

The energy sector jumped 1% as US crude prices were up 0.7% a barrel, while Brent crude added 0.8%.

Data earlier in the day showed Canada added 94,000 jobs in July, compared with analyst expectations of 177,500, and the unemployment rate fell to 7.5%, just off expectations of 7.4%.

The financials sector gained 0.8%, while the industrials sector rose 0.3%.

TSX climbs on earnings, M&A optimism

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.8% as gold futures fell 2% to $1,769.8 an ounce.

On the TSX, 136 issues were higher, while 86 issues declined for a 1.58-to-1 ratio favouring gainers, with 19.91 million shares traded.

The largest percentage gainer on the TSX was Westport Fuel Systems Inc, which jumped 14.6% after an upbeat quarterly earnings report.

Gildan Activewear Inc rose 6.1% after posting a surge in second-quarter sales and reinstating its share repurchase programme.

Canada sees record exports in June

On the other hand, Ritchie Bros Auctioneers Inc fell 7.2%, the most on the TSX, as it posted a lower-than-expected quarterly revenue. The second-biggest decliner was Badger Infrastructure Solutions Ltd down 7.5%.

The most heavily traded shares by volume were Enbridge Inc , Manulife Financial Corp and Bombardier Inc .

The TSX posted 13 new 52-week highs and five new lows.

Across all Canadian issues there were 67 new 52-week highs and 15 new lows, with total volume of 32.01 million shares.