(Reuters) - Canada's main stock index edged higher on Friday as financial stocks gained after a strong domestic jobs data cemented expectations of fourth interest rate hike of the year next week.
* At 10:16 a.m. ET (14:16 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 20.57 points, or 0.13 percent, at 16,287.18.
* Latest data showed Canadian economy added 31,800 jobs in June, while a Reuters poll predicted an increase of 24,000 positions, cementing expectations the Bank of Canada will raise interest rates next week.
* Another report showed the country's trade deficit grew on a sharp rise in imports of airlines and gasoline.
* Eight of the index's 11 major sectors were higher, led by 0.2 percent gain in the heavyweight financials sector.
* Brookfield Asset Management's 1.1 pct rise and nearly 0.2 percent increase in shares of Bank of Montreal and Bank of Nova Scotia helped the financial index the most.
* Also supporting the market was the telecoms sector , which gained 0.67 percent. BCE Inc and Rogers Communications were the biggest boost to the sector.
* The energy sector climbed 0.2 percent. U.S. crude prices were up 0.5 percent a barrel, while Brent crude lost 0.6 percent.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent as gold futures fell 0.2 percent to $1,254.4 an ounce, while copper prices declined 1.1 percent to $6,275.5 a tonne. 25.55
* The largest percentage gainers on the TSX were Transcontinental Inc, which jumped 3.2 percent and Cogeco Communications, which rose 3 percent after National Bank of Canada upgraded the stock to "outperform".
Centerra Gold fell 3.8 percent, the most on the TSX, while the second biggest decliner was Enerflex, down 2.5 percent.
* The most heavily traded shares by volume were Aurora Cannabis, Bombardier B, and Canopy Growth Co .
On the TSX, 130 issues were higher, while 104 issues declined for a 1.25-to-1 ratio favouring gainers, with 20.06 million shares traded.
* The TSX posted seven new 52-week highs and five new lows.
* Across all Canadian issues there were thirteen new 52-week highs and nine new lows, with total volume of 39.52 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)