Canada's main stock index rose on Friday, led by financial and energy shares as oil prices gained and after TransCanada Corp said the U.S. Department of State issued a presidential permit for the construction of the Keystone XL oil pipeline.
The S&P/TSX Composite Index gained 44.5 points to greet noon at 15,478.11
The Canadian dollar shed 0.12 cents at 74.78 cents U.S.
TransCanada's shares rose 1.1% to $62.44, while the overall energy group dwindled.
The gains came as investors awaited a vote on a U.S. health-care bill, seen as a test of President Donald Trump's ability to pass his legislative agenda, including tax cuts and infrastructure spending that could boost economic growth, through Congress.
BCE gained 28 cents to $59.17, while Rogers conquered 78 cents, or 1.4%, to $57.53.
Among consumer discretionary concerns, Canadian Tire was unchanged at $207.43.
Utilities also sparkled, with Fortis Inc. climbing 36 cents to $43.89.
On matters economic, Statistics Canada reported that February’s consumer price index rose 2.0% on a year-over-year basis in February, following a 2.1% gain in January.
Excluding gasoline, the CPI was up 1.3% year over year in February, following a 1.5% increase in January.
ON BAYSTREET
The TSX Venture Exchange regained 2.7 points to 804.06
All but one of the 12 TSX subgroups were positive midday, as telecoms, consumer discretionaries and utilities each soared 0.7%.
Only energy tailed off, and 0.1% at that.
ON WALLSTREET
U.S. equities rose slightly on Friday as investors anxiously awaited the House of Representative's vote on the American Health Care Act.
The Dow Jones Industrials gains had dwindled to 1.12 points above breakeven to 20,657.70, with Nike and American Express contributing the most gains.
The S&P 500 picked up 4.44 points to 2,350.40, with information technology and financials leading advancers.
The NASDAQ added 30.87 points to 5,848.56. Still, the major indexes were on track for weekly losses.
The vote, which was originally set for Thursday, was delayed after Republicans failed to secure enough support for the bill. But given as President Donald Trump is said to be finished negotiating, the House is now slated to vote sometime Friday, and it is crucial for the Trump agenda.
Trump has said the repeal and replacement of Obamacare must happen before action can be taken on his other plans, including a major tax reduction.
In economic news, durable goods orders rose 1.7% in February, above the expected increase of 1.2%. The IHS Markit manufacturing Purchasing Managers Index, meanwhile, hit a five-month low of 53.4.
Prices for the benchmark 10-year Treasury note were higher, lowering yields to 2.4% from Thursday’s 2.42%. Treasury prices and yields move in opposite directions.
Oil prices regained 12 cents to $47.82 U.S. a barrel
Gold prices recovered 90 cents at $1,248.10 U.S. an ounce.
