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By Nikhil Sharma and Nivedita Balu

Nov 8 (Reuters) - Canada's main stock index slipped on

Friday, weighed down by mining and energy shares, as markets

trimmed bets for a 50-basis-point interest rate cut by the Bank

of Canada next month after domestic jobs data.

The Toronto Stock Exchange's S&P/TSX composite index

was down 86.53 points, or 0.35%, at 24,759.40. The

pullback came as the index closed higher for the week after two

straight weeks of declines, broadly benefiting from Donald

Trump's reelection in the United States and his proposals for

tax cuts and looser regulations on corporations.

However, his planned 10% tariff on all imports could have

serious implications for Canada, the world's No. 4 crude oil

producer.

Canada's materials sector fell 1.9% as gold

prices logged their steepest weekly decline in over five months,

pressured by a stronger dollar and uncertainty about Trump's

victory's impact on the U.S. rate cut trajectory

Lower copper prices also weighed on the sector as China's

latest fiscal stimulus disappointed investors.

Among top losers were Sandstorm Gold ( SAND ), Ivanhoe Mines ( IVPAF )

and First Quantum Minerals ( FQVLF ) that fell between 7%

and 9%.

The energy sector fell 1.1%, tracking oil prices

as concerns eased over Hurricane Rafael's impact on the U.S.

Gulf's oil and gas infrastructure.

Canada added lower-than-expected 14,500 jobs in October,

while wages of permanent employees rose. The unemployment rate

stayed unchanged from September but hovered around a 34-month

high of 6.5%.

Traders see a 60% chance of a 50-bps cut at the Bank of

Canada's December policy meeting, slightly below the 64%

likelihood seen before the data.

BoC's peer, the U.S. Federal Reserve, cut rates by 25 basis

points on Thursday.

"Potentially, the Fed is going to have a slower and

shallower rate cutting path relative to the Bank of Canada and

other central banks that will apply some upward pressure on the

dollar and therefore weigh on some of these commodity prices,"

Angelo Kourkafas, senior investment strategist at Edward Jones

said.

The biggest gainer on the index, Mattr ( MTTRF ), jumped 16%

after the material technology company agreed to buy power cable

producer AmerCable from France-based Nexans for

$280 million.