Equities in Toronto rose on Friday to an all-time high on strengthening oil prices and hopes of business-friendly tax cuts in the United States, while a surge in domestic jobs suggested the country's economy was picking up.
The S&P/TSX Composite muscled up 112.43 points to greet noon at 15,729.73
The Canadian dollar added 0.38 cents at 76.5 cents U.S.
Canadian Natural Resources climbed 1.3% to $39.54, as energy issues popped.
Cameco Corp rose 0.8% to $14.35 even after it reported on Thursday a lower-than-expected quarterly profit, hurt by weak uranium prices.
The heavyweight financials group rose, with Royal Bank of Canada advancing 0.8% to $96.89.
Agrium Inc forecast on Thursday a less profitable year than expected and said its quarterly profit plunged.
Still, the fertilizer maker's shares rose 0.8% to $137.80, while the materials group, which includes precious and base metals miners and fertilizer companies, added strength
Sierra Wireless Inc surged more than 26% to $30.84 after reporting fourth-quarter and full-year 2016 results on Thursday.
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 bolted 3.93 points higher to 829.81
All but one of the 12 subgroups were higher moving into the afternoon, with energy surging 1.6%, materials up 1.3%, and gold shining 0.8% brighter.
Only telecoms missed the party, down 0.1%.
ON WALLSTREET
U.S. equities traded at record highs on Friday a day after President Donald Trump promised to release a tax plan in the near future.
The Dow Jones Industrials jumped 68.75 points to 20,241.15, as Goldman Sachs excelled all gainers.
The S&P 500 gained 5.86 points to 2,313.73, with energy and materials leading advancers
The NASDAQ added 13.42 points to 5,728.60, 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.
Moreover, preliminary consumer sentiment for February came in at 95.7, below the expected 98.5.
Prices for the benchmark 10-year Treasury note strengthened, lowering yields back to Thursday’s 2.40%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.08 to $54.08 U.S. a barrel
Gold prices dropped $1.70 to $1,235.10 U.S. an ounce.
