Equities in Toronto rose on Friday to an all-time high as higher oil prices supported energy shares, while a surge in domestic jobs suggested the economy was finding its footing.
The S&P/TSX Composite muscled up 86.22 points to open Friday at 15,703.52
The Canadian dollar added 0.32 cents at 76.44 cents U.S.
Agrium Inc. has forecast a less profitable year than expected and said its quarterly profit plunged. Agrium shares took on 25 cents to $136.98.
Cameco Corp reported a lower-than-expected quarterly profit, hurt by weak uranium prices.
Cameco shares picked up 38 cents, or 2.7%, to $14.62
CIBC raised the price target on Manulife Financial to $27.00 from $23.00. Manulife acquired 18 cents a share to $24.63.
CIBC raised the price target on Precision Drilling to $11.00 from $10.50.
Precision shares sprang to life 40 cents, or 5.5%, to $7.67.
Barclays raised the target price on Telus Corp. to $50.00 from $48.00. Telus shares dropped four cents to $43.10.
On the economic front, Statistics Canada reported that the economy added 48,000 jobs in January, resulting in a drop in the unemployment rate of one-10th of a percentage point to 6.8%
ON BAYSTREET
The TSX Venture Exchange gained 0.47 points to 825.88
All but two of the 12 subgroups were higher to begin the week’s last session, as energy perked 1.6%, health-care was haler 0.7%, and consumer discretionary stocks soared 0.6%.
The two laggards were gold, down 0.9%, and materials, off 0.1%.
ON WALLSTREET
U.S. equities rose on Friday, a day after President Donald Trump promised to release a tax plan in the near future, despite being short on specifics, at first.
The Dow Jones Industrials jumped 57.74 points to 20,230.14, with Goldman Sachs’ gains showing the way.
The S&P 500 gained 4.53 points to 2,312.39, with energy leading advancers.
The NASDAQ added 5.43 points to 5,720.62, breaking into new record territory.
In economic news, import prices rose 0.4% in January, more than the expected 0.2% increase. Export prices rose 0.1% last month, in line with estimates. Consumer sentiment data were set to come out at 10 a.m. ET.
Prices for the benchmark 10-year Treasury note weakened, raising yields to 2.42% from Thursday’s 2.40%. Treasury prices and yields move in opposite directions.
Oil prices gained 84 cents to $53.84 U.S. a barrel
Gold prices dropped $7.20 to $1,229.60 U.S. an ounce.
