Canada's main stock index advanced on Friday after the Bank of Japan surprised markets by increasing stimulus measures, helping drive gains in most major sectors.
The S&P/TSX composite index leaped 154.63 points, or 1.1%, to end the day, week and month at 14,613.32
The Canadian dollar dropped 0.68 cents to 88.72 cents U.S.
The benchmark TSX has been through a rough patch in recent weeks, hit by choppy commodity prices and worries about global growth. But with Friday's gains, the index has rebounded about 7% from an eight-month low it hit two weeks ago.
Information technology issues led the pack, as Constellation Software surged 4.8% to $317.40. Avigilon shares advanced 3.1% to $15.62.
Financials climbed as Toronto Dominion Bank added 1.3% to $55.47, and Bank of Nova Scotia rose 1.1% to $69.02.
Shares of energy producers were up, with Suncor Energy gaining 2.6% to $40.02.
The gold-mining sector, gave back ground, as Barrick Gold shed 2.7% to $13.38, while Goldcorp sprang to life, gaining 1.5% to $21.15.
The Bank of Japan's board voted five to four to accelerate purchases of Japanese government bonds, increasing its holdings at an annual pace of 80 trillion yen ($723.4 billion U.S.), while tripling its purchases of exchange-traded funds and real-estate investment trusts.
On the economic front, Statistics Canada reported this morning that August’s gross domestic product declined 0.1% in August, following no growth in July and increases in the first six months of the year.
The agency blames oil and gas extraction and manufacturing for much of the August decrease.
ON BAYSTREET
The TSX Venture Exchange dipped 2.06 points to 769.59
All but three of the 14 Toronto subgroups gained on the day, with information technology climbing 2.3%, global base metals mightier by 2.1%, and energy surging 1.9%.
The three laggards were gold, down 4%, materials, off 0.7%, and utilities sliding 0.4%
ON WALLSTREET
U.S. stocks rose sharply on Friday, with the Dow hitting a record high as the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its years-long package of incentives.
The Dow Jones Industrials hiked 195.10 points, or 1.1%, to close at a fresh new record of 17,390.52
The S&P 500 gained 23.40 points to 2,018.05, also a new high. The NASDAQ index moved higher 64.6 points to 4,630.74.
Gains were broad, with the benchmark S&P 500 index posting 125 new 52-week highs and two new lows. The NASDAQ Composite recorded 218 new highs and 31 new lows.
Among the biggest positives on the S&P 500, Abbvie shares rose 3.5%, after the drug maker reported quarterly earnings and said it could deliver strong long-term growth without rushing into another big merger attempt.
Among the day's biggest percentage gains, shares of Expedia rose 5.5% a day after it reported results. GoPro shares jumped 13.8% after forecasting better-than-expected holiday quarter sales.
The largest decliner on the NASDAQ was Starbucks, down 2.1%, a day after it reported results.
Equities offered muted reaction to Friday data that had U.S. consumer spending unexpectedly falling in September, a gauge of manufacturing activity in the Chicago region hitting 66.2 in October, better than the estimated 60.0, and U.S. consumer sentiment rising to 86.9 in October versus an expected 86.4.
Prices for 10-year U.S. Treasuries dipped, raising yields to 2.34% from Thursday’s 2.30%. Treasury prices and yields move in opposite directions.
Oil prices lowered 55 cents to $80.57 U.S. a barrel.
Gold prices tumbled $26.40 to $1,172.10 U.S. an ounce.
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