Updates prices and details throughout

By Tharuniyaa Lakshmi

May 8 (Reuters) - Canada's benchmark index edged higher on Friday, supported by mining stocks while investors drew optimism from signs that the Middle East ceasefire was holding as well as a resilient U.S. economy after stronger‑than‑expected jobs data.

At 10:40 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 0.7% at 34,113.67 points and was on track for a weekly gain after two straight weekly losses.

U.S. and Iranian forces clashed in the Gulf and the United Arab Emirates came under renewed attack. These dented hopes for a swift diplomatic resolution to the crisis though President Donald Trump said a ceasefire was still holding.

The heavy-weight mining stocks .GSPTTMT led gains, up 2.7%, as gold prices rose after the U.S. jobs data and optimism over a potential end to the U.S.-Iran conflict helped ease concerns about inflation and elevated interest rates. GOL/

First Quantum Minerals FM.TO, Capstone Copper CS.TO and Wesdome Gold Mines WDO.TO rose 5.3% to 6.3%, being among the top gainers on the index.

"Investors are cautiously optimistic after signs a ceasefire is holding, but renewed clashes show risks in the Middle East remain elevated, keeping demand for gold firm as prolonged tensions raise the threat of energy‑driven inflation,” said Michael Dehal, senior portfolio manager, Dehal Investment Partners at Raymond James.

The energy index .SPTTEN also rose 0.8%, tracking higher oil prices after renewed fighting near the Strait of Hormuz raised supply concerns, signaling skepticism among some investors. O/R

On the macroeconomic side, U.S. jobs growth topped expectations in April, while the unemployment rate held at 4.3%, signaling continued labor‑market resilience.

Canada's unemployment rate, meanwhile, rose to a six-month high of 6.9% in April as the economy lost a net 17,700 jobs, Statistics Canada data showed. This flagged a continued weakness in a labor market that has struggled in the face of U.S. tariffs and trade uncertainty.

"In contrast to the U.S. data, Canada lost jobs and the unemployment rate climbed, highlighting the labor‑market weakness we've been flagging and it's simply not as rosy a story in Canada as it is in the U.S.," Dehal said.

On the earnings front, Enbridge ENB.TO inched up 0.6% after the pipeline operator reported first-quarter adjusted profit that surpassed analysts' expectations.

Energy Fuels EFR.TO fell 8.3% even as the rare earth producer's first-quarter revenue rose.