CANADA STOCKS-TSX rises on energy boost as OPEC+ agrees to output cuts
Dec 6 (Reuters) - Canada's main stock index rose on Friday, boosted by energy shares after OPEC and its allies agreed to supply cuts, while upbeat comments from U.S. President Donald Trump on a trade deal with China also helped sentiment.
* Crude prices rose sharply as a meeting of OPEC and its allies agreed to extend output cuts by 500,000 barrels per day in early 2020, sending the energy sector surging 3%.
* The additional cuts by the Organization of the Petroleum Exporting Countries and allies including Russia - a grouping known as OPEC+ - will last throughout the first quarter next year.
* Markets overlooked data that showed the domestic job market lost a surprise 71,200 net positions in November while the unemployment rate rose to 5.9%, the highest in more than a year.
* Analysts said a repeat of the weak numbers could force the Bank of Canada to rethink monetary policy.
* At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 104.94 points, or 0.62%, at 16,959.86.
* On the trade front, Trump said talks with Beijing were "moving right along", and also supporting sentiment was China's move to waive import tariffs for some soybeans and pork shipments from the United States.
* On the TSX, 180 issues were higher, while 47 issues declined for a 3.83-to-1 ratio favoring gainers, with 16.62 million shares traded.
* The largest percentage gainers on the TSX were First Quantum Minerals Ltd which jumped 4.7%, and CI Financial Corp, which rose 4% after RBC upgraded its shares to "sector perform" from "underperform"
* Yamana Gold Inc fell 4.4%, the most on the TSX, as spot prices of gold was lower.
* The second biggest decliner was Pan American Silver Corp , down 3.8%.
* The most heavily traded shares by volume were Suncor Energy Inc, Canadian Natural Resources Ltd and Encana Corp.
* The TSX posted 13 new 52-week highs and no new low.
* Across all Canadian issues there were 27 new 52-week highs and two new lows, with total volume of 26.91 million shares. (Reporting by Arjun Panchadar in Bengaluru; Editing by Amy Caren Daniel)
