Equities in Canada’s largest centre stayed positive by midday Friday, on Friday, led by energy and mining stocks as oil and gold prices gained after a speech by Federal Reserve Chair Janet Yellen viewed as supportive of a U.S. interest rate increase.
The S&P/TSX Composite was up 26.21 points to greet noon at 14,656.93
The Canadian dollar faded 0.11 cents at 77.27 cents U.S.
The most influential movers on the index were gold stocks, including Barrick Gold, which rose 2.3%to $24.2, and Franco Nevada, up by the same margin to $95.81.
U.S. crude prices were up and Canadian Natural Resources rose nearly 1% to $41.78.
Among financial stocks, Toronto-Dominion Bank docked four cents to $57.46. The bank’s chief risk officer said Thursday the bank has made changes to its mortgage underwriting practices in recent years, potentially making it more resilient if house prices fall in Vancouver and Toronto.
ON BAYSTREET
The TSX Venture Exchange added 7.84 points to 809.77
Eight of the 12 subgroups remained buoyant, as gold, financials and energy each moved up 0.4%.
The four laggard were weighed most by health-care, ailing 0.6%, while utilities and consumer staples each skidded 0.3%
ON WALLSTREET
U.S. stocks traded mostly lower on Friday as investors digested remarks made by Federal Reserve Chair Janet Yellen and Vice Chairman Stanley Fischer.
The Dow Jones Industrials moved deep into negative territory 78.9 points to 18,369.51, after Fischer told the media next week's jobs report would weigh on the Fed's rate hike decision. Nike led decliners and Visa proved the top advancer.
The S&P 500 dropped 6.91 points to 2,165.59, with telecommunications leading all sectors lower.
The NASDAQ Composite sank 12.46 points to 5,199.97.
Fischer spoke after Yellen, who said in a much-anticipated speech Friday at the central bank's annual Jackson Hole summit that the case for a rate hike has gained strength "in recent months."
Market expectations for a rate hike in September, the Fed's next meeting, were at 18%, according to some prognosticators.
Investors also digested the second read on second-quarter U.S. gross domestic product, which showed growth of 1.1%, down from the initial read of 1.2%.
Prices for the 10-year Treasury slid, raising yields back to Thursday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices lessened six cents a barrel to $47.27 U.S.
Gold prices fell $1.20 at $1,323.40 U.S. an ounce.
