Equities on Canada’s largest market shot for the stars to end the week, as health-care and industrial gains easily overcame losses in telecoms.
The S&P/TSX Composite Index jumped 80.39 points to end the day and the week at 16,096.07
The Canadian dollar slid 0.04 cents to 77.73 cents U.S.
Health-care stocks looked over their shoulders at the competition Friday, as Valeant Pharmceuticals galloped $2.68, or 11.8%, to finish around $25.36. Aphria Inc. moved forward 45 cents, or 3.5%, to $13.50.
Industrials were in the runner-up slot, as Canadian Pacific Railway Ltd. chugged ahead $4.68, or 2.1%, to $231.92, while Air Canada took the skies $1.06, or 4.3%, to $25.63.
Kinder Morgan Canada was last up 85 cents, or 5.1% at $17.50 after the country's energy regulator ruled it could sidestep some municipal permits for its Trans Mountain pipeline expansion. Suncor gained 22 cents to $44.33.
Among the most influential gainers on the index were diversified miner Teck Resources Ltd, which rose 33 cents, or 1.1%, to $29.60, and Barrick Gold, which advanced one cent to $17.58.
Rogers Communications Inc fell 88 cents, or 1.3%, to $64.86, after the cable and telecom behemoth said its chairman would step down at the end of the year. He will be replaced by Edward Rogers, the son of the family-controlled company's founder Ted Rogers.
Elsewhere in telecoms, TELUS tailed off 40 cents to $48.15.
On the data beat, Canada Mortgage and Housing Corporation reported that housing starts came in at 226,270 units in November, compared to 216,642 units in October. Experts had pegged housing starts at 215,000 units in November.
ON BAYSTREET
The TSX Venture Exchange gained 5.34 points to close Friday at 792.96
All but one of the 12 TSX subgroups were positive, with health-care springing higher 5.6%, while industrials improved 1.1%, and energy rumbled 0.9% higher.
The lone laggard was in telecoms, down 0.6%
ON WALLSTREET
U.S. equities closed higher on Friday following the release of a stronger-than-expected jobs report.
The Dow Jones industrials strengthened 117.68 points, to 24,329.16. The S&P 500 picked up 14.52 points to 2,661.50, with health-care rising more than 1%. Both indexes also closed at record highs.
The NASDAQ gained 27.24 points to 6,840.08, as shares of Amazon, Netflix and Alphabet rose.
In corporate news, Alexion Pharmaceuticals shares popped 7.2% after Leerink Partners said it sees the stock rising 30% in a base outcome from Phase 3 trials for ALXN1210, a drug that aims at treating paroxysmal nocturnal hemoglobinuria.
The U.S. economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. Economists expected a gain of 200,000. The unemployment rate held steady at 4.1%.
Average hourly earnings — a closely watched component of the report — rose 0.2% for November and 2.5% for the year. Economists expected a monthly increase of 0.3% or 2.7% for the year.
Prices for the benchmark 10-year Treasury note sank, raising yields to 2.38% from Thursday’s 2.36%. Treasury prices and yields move in opposite directions.
Oil prices added 69 cents a barrel to $57.38 U.S.
Gold prices skidded $2.80 to $1,250.30 U.S. an ounce.
