CANADA STOCKS-TSX climbs to record high ahead of domestic jobs data

By Fergal Smith

TORONTO, July 10 (Reuters) - Canada's main stock index notched a record high on Thursday, led by gains for industrial shares, as investors shrugged off ongoing trade uncertainty and awaited domestic jobs data.

The S&P/TSX composite index .GSPTSE ended up 109.98 points, or 0.4%, at 27,082.30, eclipsing Friday's record closing high.

A solid U.S. Treasury auction and recent postponement of a July 9 U.S. tariff deadline to August 1 have helped reassure investors, said Kevin Headland, co-chief investment strategist at Manulife Investment Management. "Everything seems to be in a positive light right now."

Canada is seeking to finalize a free trade deal with Southeast Asian nations as part of a push to expand into new markets, its top diplomat said, responding to the hefty tariffs imposed on it by the United States, its largest trade partner.

Canada's employment report for June, due on Friday, could offer clues on how the domestic economy is coping with trade uncertainty and guide expectations for the Bank of Canada interest rate decision on July 30. Economists expect a flat reading for jobs and the unemployment rate to tick up to 7.1% from 7% in May.

"As long as there aren't any surprises on the weak side, they're (the BoC) quite happy to hold rates where they are now in case there are any surprise shocks for inflation," Headland said.

The industrials sector rose 0.8%, helped by a gain of 3.7% for Air Canada AC.TO

Real estate was up 0.4% and heavily weighted financials ended 0.6% higher.

Just three of the 10 major sectors ended lower. It included energy, which lost 0.3% as the price of oil CLc1 settled 2.65% lower at $66.57 a barrel.

Shares of uranium producer Energy Fuels EFR.TO jumped 16.3% to the highest level since December 2024.