April 5 (Reuters) - Canada's main stock index rose on Friday, boosted by technology stocks as softer employment numbers bolstered hopes of a June rate cut by the Bank of Canada, while investors also assessed a hot jobs data report in the United States.
At 10:18 a.m. ET (14:18 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab was up 113.36 points, or 0.51%, at 22,165.15.
Rate-sensitive technology stocks (.SPTTTK), opens new tab led gains on the index with a 1.3% rise.
Ten of eleven sectors traded in the green, while utilities stocks (.GSPTTUT), opens new tab were the only outliers amongst the broad rally with a 0.5% decline.
On the data front, Canada's economy unexpectedly shed a net 2,200 jobs in March, while the jobless rate increased to a new 26-month high of 6.1%, data showed on Friday, raising bets of an interest rate cut in June by the Bank of Canada.
The dataset was the last major report before the central bank's monetary policy decision, which is expected next week.
The BoC will cut its key interest rate in June, a strong majority of economists in a Reuters poll said.
"The jobs numbers in Canada will probably lead to a quicker round of cuts in Canada than in the U.S.", said Daniel Nowlan, managing director and vice chairman of Equity Capital Markets Group at the National Bank of Canada.
On the flip side, U.S. job growth beat expectations in March, suggesting a solid economy in the first and potentially delayed anticipated interest rate cuts from the Federal Reserve this year.
"(U.S job data) has changed the views as to when rate cuts would be coming, because it seems like all bets are off for rate cuts in June and July and everything's focused on September now," Nowlan added.
Among Canadian corporate news, Laurentian Bank of Canada (LB.TO), opens new tab rose marginally after it entered an agreement to sell assets of its retail investor broker division.
Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar
