* TSX ends up 1% at 19,824.85

* For the week, the index adds 5.8%

* Canada, U.S. add fewer-than-expected jobs in October

* Magna raises 2023 profit forecast, shares gain

Nov 3 (Reuters) - Canada's main stock index climbed on Friday to a six-week high after data showed both Canada and the U.S. adding fewer-than-expected jobs in October, cementing hopes of central banks ending their interest rate hiking campaigns.

The Toronto Stock Exchange's S&P/TSX composite index ended up 198.51 points, or 1%, at 19,824.85, its highest closing level since Sept. 20.

For the week, the TSX was up 5.8%, its biggest weekly advance since April 2020.

Friday's rally was led by financial and industrial stocks and the market is "essentially tracking the U.S. higher," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Wall Street's main stock indexes gained after news of slowing U.S. jobs growth boosted hopes that the Federal Reserve is done with its interest rate hiking campaign.

"The Americans seem to think the Fed is done," Cieszynski said. "Treasury yields are coming off and stocks are going up."

The Canadian economy also added jobs at a slower pace in October, supporting bets the Bank of Canada may not tighten further.

The Toronto market's heavily weighted financials sector rallied 1.4%, industrials added 1.2% and consumer discretionary ended 1.9% higher, benefiting from an 8.6% jump in the shares of Magna International after the auto parts supplier raised its 2023 profit forecast.

The interest rate-sensitive real estate sector stood out with a 3% rise, and the materials sector, which includes precious and base metals miners and fertilizer companies, added 2.6%.

It was helped as shares of First Quantum Minerals Ltd rose 11.1%, rebounding from this week's decline, after the company said production at its Cobre Panama mine remains uninterrupted.

Energy fell 1.4% as the price of oil settled 2.4% lower at $80.51 a barrel. (Reporting by Fergal Smith in Toronto and Khushi Singh; Editing by Tasim Zahid and Richard Chang)