(Updated at 10:02 a.m. ET/ 1502 GMT)

By Nikhil Sharma

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

Friday, hurt by mining and energy shares, while domestic jobs

data slightly trimmed bets for a hefty 50-basis-point interest

rate cut by the Bank of Canada next month.

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

was down 118.73 points, or 0.48%, at 24,727.2, but was

set to log weekly gains, broadly benefiting from Donald Trump's

reelection 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 1.8% as gold

prices dropped and heading for their worst week in over five

months, strained by the strong dollar amid market 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.

The energy sector fell 1.3%, tracking oil prices

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

Gulf's oil and gas infrastructure.

"The Canadian markets and the US markets are at all-time

highs. So I don't think a small pullback today is of any

concern," said Michael Constantino, chief executive officer at

Webull Canada.

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 58.7% chance of a 50-bps cut at the Bank of

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

likelihood seen before the data.

The bank slashed rates by half a percentage point last month

in a bid to boost economic growth.

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

points on Thursday.

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

15.8% after the material technology company agreed to buy power

cable producer AmerCable from France-based Nexans for

$280 million.