The Toronto stock market was higher Friday, adding to a string of solid gains as investors continue to buy up stocks oversold during the course of a fall selloff.
The S&P/TSX composite index was positive 121.51 points to conclude the last full week of 2014 at 14,468.26, after charging ahead about 650 points over the last three sessions.
The Canadian dollar slid 0.21 cents to 86.17 cents U.S.
BlackBerry was a drag on the TSX. The smartphone maker posted a profit of one cent a share after adjustments, beating expectations for a loss of five cents a share, but revenue was short of estimates.
The company narrowed its net loss to $148 million U.S. or 28 cents, an improvement from a year ago loss of $4.4 billion or $8.39 in the same period a year ago. BlackBerry's revenue was $793 million U.S. versus analyst predictions of $931 million U.S., and down from $1.19 billion a year ago.
BlackBerry shares docked 12 cents, or 1%, to $11.55.
On the Toronto market, the energy sector by far has been the biggest beneficiary of a three-day run of bargain-hunting that has sent the component up about 12% for this week.
The sector is still down 20% year to date, having been positive the same amount mid-summer before oil prices started to collapse amid demand worries but especially because of a huge supply imbalance.
Imperial Oil improved $1.30, or 2.6%, to $51.17
The base metals sector was ahead while March copper gained three cents to $2.89 U.S. a pound. Teck Resources tacked on 48 cents, or 3.2%, to $15.41.
The gold sector rose, though Barrick Gold fell 26 cents, or 2%, to $12.59.
The industrials group was the major decliner, as Bombardier fell five cents, or 1.2%, to $3.97
On the economic sheet, inflation figures proved a mixed bag last month, Statistics Canada reporting that consumer prices rose 2.0% in the 12 months to November, following a 2.4% increase in October. On a monthly basis, CPI declined 0.2% in November, after rising 0.1% in October.
Retail sales were relatively unchanged in October, holding at $42.8 billion. Lower sales at motor vehicle and parts dealers and gasoline stations offset higher sales in most other sub-sectors. Gains were reported in six of 11 sub-sectors, representing 42% of retail trade.
ON BAYSTREET
The TSX Venture Exchange gained 11.04 points to 676.54
All but three of the 14 Toronto subgroups were higher, with energy gathering 3.5%, global base metals up 2%, and consumer staples up 1.7%.
The three laggards proved to be gold, down 1.3%, industrials, sliding 0.7%, and materials, off 0.01%.
ON WALLSTREET
U.S. stocks rose for a third session on Friday, with the S&P 500 tallying its second best week in nearly two years.
The Dow Jones Industrials moved up 26.65 points to finish at 17,804.80, leaving it 3% ahead of the week-ago finish.
Nike led blue-chip losses after the sporting-goods maker's future orders disappointed.
The S&P 500 gained 9.42 points to 2,070.65, with energy rising the most and consumer staples the sole laggard of its 10 major sectors.
The S&P rose 3.4% for the week
The NASDAQ index tacked on 16.98 points to 4,765.38
BlackBerry fell after the wireless-device maker posted a larger-than-expected decline in quarterly revenue.
CarMax gained after the used-car seller reported a 16% rise in quarter revenue.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.18% from Thursday’s 2.20%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.80 per barrel to $56.91 U.S.
Gold prices hiked one dollar an ounce at $1,195.80 U.S.
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