May 3, 2019 / 2:17 PM / 19 days ago

CANADA STOCKS-Material shares push TSX higher

May 3 (Reuters) - Canada’s main stock index rose on Friday, as shares of material companies gained on the back of higher gold prices.

* Helping market sentiment was data released by the United States, which showed that job growth surged in April and the unemployment rate dropped to a more than 49-year low of 3.6 percent, pointing to sustained strength in economic activity.

* Ten of the 11 major sectors in the main index were trading higher, with gains led by the materials sector, which includes precious and base metals miners and fertilizer companies. The materials sector rose 0.9 percent.

* At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 54.22 points, or 0.33 percent, at 16,465.1.

* The Canadian dollar is set to strengthen over the coming year, helped by higher oil prices, but the currency’s gains will be held back by the greater interest rate offered to holders of U.S. dollar, a Reuters poll showed.

* Hudbay Minerals Inc rose 1.7% after the company said it had agreed with Waterton Global Resource Management Inc, its second largest shareholder, to elect a slate of 11 board members that includes some of the nominees proposed by both parties.

* The financials sector gained 0.3 percent, while the industrials sector rose 0.4 percent.

* On the TSX, 172 issues were higher, while 59 issues declined for a 2.92-to-1 ratio favouring gainers, with 16.64 traded volumes touching million shares.

* The largest percentage gainers on the TSX were Pretium Resources Inc, which jumped 9.5 percent after reporting quarterly profit that topped estimates.

* Baytex Energy Corp, which rose 6.7 percent, was among the top gainers, after reporting quarterly results.

* Eldorado Gold Corp fell 11.2 percent and Enerflex Ltd dropped 6 percent and were among the biggest decliners on the TSX, after the two companies posted disappointing quarterly results.

* The most heavily traded shares by volume were Bombardier Inc, Baytex Energy Co and Aurora Cannabis .

* The TSX posted one new 52-week high and three new lows.

* Across all Canadian issues, there were ten new 52-week highs and four new lows, with total traded volumes touching 25.58 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by James Emmanuel)

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