*
TSX ends up 17.9 points, or 0.1%, at 20,758.34
*
For the week, the index advances 0.2%
*
Energy rises nearly 1%; oil settles 3.3% lower
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Materials group ends down 2.1%
(Adds investor quotes and details throughout; updates prices)
By Fergal Smith
Feb 3 (Reuters) - Canada's main stock index rose on
Friday, helped by gains for energy and technology shares, but
the move was limited as stronger than expected U.S. jobs data
ran counter to hopes the U.S. Federal Reserve would soon pause
its tightening campaign.
The Toronto Stock Exchange's S&P/TSX composite index ended up 17.9 points, or 0.1%, at 20,758.34 following
two days of modest declines.
For the week, it was up 0.2%. That was its fifth straight
weekly gain, the longest weekly winning sequence since March.
In contrast, major U.S. stock indexes ended lower after data
showed U.S. nonfarm payrolls surging by 517,000 in January, well
above an estimate of 185,000.
"The big news of the day is the extremely strong U.S. jobs
report. It has been a reality check for the markets," said Elvis
Picardo, portfolio manager at Luft Financial, iA Private Wealth.
"There was a little bit of complacency setting in terms of what
the Fed would do next."
The energy sector rose nearly 1% despite a decline in oil
prices. U.S. crude futures settled 3.3% lower at $73.39 a
barrel on the prospect of higher interest rates and as investors
sought more clarity on the imminent EU embargo on Russian
refined products.
"As the global economy opens up, you might see crude oil prices start trending higher again," Picardo said. Technology rose 0.7%, adding to its recent rally, helped by a 5.1% gain for the shares of OpenText Corp after the company reported quarterly results that beat estimates. Canada Goose Holdings Inc shares gained 14.6%, recouping some of its sharp decline the day before when the luxury goods maker cut its full-year forecasts. The materials sector, which includes precious and base metal mining companies, fell 2.1% as a stronger U.S. dollar weighed on gold and copper prices. (Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru; Editing by Marguerita Choy)
