(fxcue news) - The Canadian market is modestly higher around noon on Friday, riding on gains in communications, energy and materials sectors. Technology stocks are weak, while shares from the rest of the sectors are turning in a mixed performance. Optimism about the U.S. and China agreeing on a trade deal this weekend, close on the heels of U.S. President Donald Trump unveiling the framework of a trade agreement with the U.K., marking the first deal since he announced new tariffs on U.S. trade partners in early April. Firm crude oil and gold prices contribute to investors' interest in energy and materials stocks. Data showing an additon in jobs in the month of April is also aiding sentiment. Data released by Statistics Canada showed the Canadian economy added 7,400 jobs in the month of April, after seeing a drop of 32,600 jobs in March. Meanwhile, the unemployment rate in Canada increased to 6.9% in April, up from 6.7% a month earlier. The market is also digesting a slew of corporate earnings updates. The benchmark S&P/TSX Composite Index is up 65.66 points or 0.26% at 25,319.72 a few minutes before noon. The Energy Capped Index is up 1.5%. Nuvista Energy is gaining 2.75%. NuVista's net earnings for the first-quarter came in at $112.2 million ($0.55/share, basic), reflecting a 214% increase compared to the first quarter of 2024. Birchcliff Energy, Peyto Exploration, Vermilion Energy, Enerflex, Suncor Energy and Imperial Oil are up 1.5 to 2.7%. The Materials Capped Index is rising 1.6%. Lundin Gold is soaring nearly 11%. Oceanagold Corp is up 5.3%, while Ssr Mining, Fortuna Mines, Pan American Silver Corp, K92 Mining, First Majestic Silver, Wheaton Precious Metals, G Mining Ventures, Orla Mining and Sandstorm Gold are up 2.5 to 4%. Enbridge Inc. (ENB.TO) gained about 0.6%. The company reported adjusted earnings of $2.2 billion or $1.03 per common share for the first-quarter of its current financial year, compared with $2.0 billion or $0.92 per common share in the year-ago quarter. Telus Corporation (T.TO) is rising more than 6% after the company reported net income of $301 million for the first quarter of 2025, up 115% compared to a year ago. Onex Corporation (ONEX.TO) reported first-quarter net earnings of $168 million, compared to $10 million in the year-ago quarter. The stock is up nearly 1%. Algonquin Power & Utilities (AQN.TO) is climbing nearly 7%. The company reprted net earnings of $95.4 million for the second quarter of its current financial year, as against net loss of $56.8 million a year ago.