Stocks in Canada’s largest centre held onto slight gains by Friday’s close, amid rumblings in the financial sector over revelations involving TD, and as investors took in the latest employment figures from both sides of the border.
The S&P/TSX Composite Index worked its way into positive territory 9.84 points to close the day and the week at 15,506.68
The Canadian dollar regained 0.27 cents at 74.3 cents U.S.
TD was down $3.87, or 5.5% at $66.02, after CBC said hundreds of current and former TD employees had responded with corroboration of
an earlier report about the bank's illegal -- sales tactics.
Element Fleet Management declined $1.09, or 7.7% to $13.05, as several banks downgraded or trimmed their price targets on the company after it reported quarterly earnings.
Among energy issues, EnCana Corporation sank 26 cents, or 1.8%, to $13.94, while Suncor Energy declined nine cents to $40.46.
Gold, however, proved the boldest of the gaining subgroups, as Goldcorp picked up 29 cents, or 1.5%, to $19.96, while Barrick Gold advanced 62 cents, or 2.6%, to $24.51.
In materials, HudBay Minerals grew 14 cents, or 1.6%, to $9.19, while Lundin Mining jumped 15 cents, or 2%, to $7.59.
Health-care stocks spread their wings, too, as CRH Medical gained 10 cents, or 1%, to $10.38, and Valeant Pharmaceuticals soared 82 cents, or 5.3%, to $16.44.
On the economic scene, Statistics Canada reported that the economy added another 15,000 jobs in February, pushing the unemployment rate down to 6.6%.
The agency said Canada has cranked out 288,000 jobs in the past year leading up to February.
ON BAYSTREET
The TSX Venture Exchange spiked 10.34 points, or 1.3%, to 799.19
All but two of the 12 TSX subgroups moved higher on the day, with gold brightening 2.6%, materials up 2.1%, and health-care haler 1.5%
The two laggards were financial stocks, down 1.2%, and energy, 0.1% less energetic.
ON WALLSTREET
U.S. equities rose in choppy trade Friday following a strong jobs report, while many investors were already looking ahead to a Federal Reserve meeting next week.
The Dow Jones Industrials gained 44.79 points to close the week at 20,902.28, with General Electric leading advancers and Boeing the top decliner.
The S&P 500 gained 7.73 points to 2,372.60, with utilities leading eight sectors higher and real-estate lagging.
The NASDAQ added 22.92 points to 5,861.73. The major indexes, however, were on track to post weekly losses, the first in seven weeks for both the S&P and NASDAQ.
The stateside economy added 235,000 jobs in February, the U.S. Bureau of Labor Statistics said, adding the unemployment rate ticked lower to 4.7%
Investors eagerly awaited the report, looking for one last item confirming the Federal Reserve would probably raise rates next Wednesday.
Experts had market expectations for a March rate hike at 93% after the data were released.
Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.58% from Thursday’s 2.61%. Treasury prices and yields move in opposite directions.
Oil prices dropped 86 cents to $48.42 U.S. a barrel
Gold prices docked 40 cents to $1,202.80 U.S. an ounce.
