Stocks in Canada’s largest centre rose on Friday, with heavyweight financial shares gaining ground as investors weighed a much stronger-than-expected increase in U.S. non-farm payrolls.
The S&P/TSX Composite regained 27.3 points to open Friday at 15,426.41
The Canadian dollar pointed upward 0.09 cents at 76.84 cents U.S.
Canaccord Genuity raised the rating on Atacama Pacific Gold to speculative buy from hold on the return to active status for the company’s marquee Cerro Maricunga gold project.
Atacama shares gathered two cents to 40 cents.
NBF cut the target price on BCE Inc. to $59.00 from $60.00 as 2017 guidance without MTS reflects lower growth ranges.
BCE shares dropped 19 cents to $57.25.
Desjardins raised the rating on Canadian Natural Resources to buy from hold following strong operational performance and recent selloff.
Natural Resources stock inched down four cents to $40.28.
ON BAYSTREET
The TSX Venture Exchange gained 1.42 points to 817.65
Eight of the 12 subgroups were lower in the first hour, with materials, energy and telecoms each down 0.4%.
The four gainers were led by financials, up 0.4%, while industrials and health-care rallied 0.2% each.
ON WALLSTREET
U.S. equities traded higher on Friday, with financials leading, following a stronger-than-expected employment report.
The Dow Jones Industrials sprang to life 129.91 points to 20,014.82, with Goldman Sachs contributed the most gains.
The S&P 500 gained 11.38 points to 2,292.23, with financials rising 1%.
The NASDAQ revived 18.93 points to 5,655.13
Economically speaking, the U.S. Labor Department said the U.S. economy added 227,000 jobs in January, while the unemployment rate ticked higher to 4.8%. Economists expected payrolls to grow by 175,000 with the unemployment rate holding steady.
Other data released Friday included December factory orders, which rose 1.3%, and the January read on the Institute for Supply Management non-manufacturing index, which came in at 56.5, slightly below December's 56.6.
Prices for the benchmark 10-year Treasury note were up, lowering yields to 2.43%, from Thursday’s 2.47%. Treasury prices and yields move in opposite directions.
Oil prices increased 37 cents to $53.91 U.S. a barrel
Gold prices faded $1.30 to $1,218.10 U.S. an ounce.
