TSX rises after domestic unemployment rate in June falls

(Reuters) - Canada’s main stock index rose on Friday as the domestic jobless rate fell in June, signaling a recovery from the economic fallout caused by coronavirus outbreak.

FILE PHOTO: The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren

* The country added 952,900 jobs in June on record service sector gains as more restaurants, stores and businesses reopened from COVID-19 closures, while the jobless rate was slightly worse-than-expected at 12.3%, data showed on Friday.

* At 9:41 a.m. ET (1341 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 53.74 points, or 0.35%, at 15,622.38.

* Canadian miner Barrick Gold Corp ABX.TO said on Friday it served a dispute notice to the Papua New Guinea (PNG) government over the country’s refusal to extend a mining lease in the Porgera valley.

* The energy sector climbed 1.2% as U.S. crude prices gained 0.3%, while Brent crude added 0.3%.

* The financials sector gained 0.8% and the industrials sector 0.1%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1% as gold futures rose 0.4% to $1,805.5 an ounce.

* On the TSX, 157 issues were higher, while 58 issues declined for a 2.71-to-1 ratio favouring gainers, with 11.89 million shares traded.

* The largest percentage gainers on the TSX were Interfor Corporation IFP.TO, which jumped 4.0% and Eldorado Gold Corp ELD.TO, which rose 3.9% after it expected a 50% jump in Q2 production.

* Wesdome Gold Mines Ltd WDO.TO fell 1.8%, the most on the TSX. The second-biggest decliner was Descartes Systems Group Inc DSG.TO, down 1.4%.

* The most-heavily traded shares by volume were Baytex Energy Co BTE.TO, up 1.5%; Freegold Venturs Ltd FVL.TO, up 16.7% and Northern Dynasity Minerals Ltd NDM.TO, down 10.2%.

* The TSX posted 7 new 52-week highs and one new low.

* Across all Canadian issues there were 24 new 52-week highs and 4 new lows, with total volume of 31.06 million shares.

Reporting by Shivani Kumaresan in Bengaluru; editing by Uttaresh.V