TSX at New Peak

Detour, Boardwalk REIT in Focus

Canada’s main stock index hit a fresh all-time high on Friday, tracking record levels on Wall Street, as positive signals on a trade truce between the United States and China supported sentiment.

The TSX Composite Index vaulted 60.09 points to greet noon at 17,032.27

The Canadian dollar surged 0.11 cents to 75.58 cents U.S.

The largest percentage gainers on the TSX were Detour Gold Corp, which jumped $2.66, or 13.8%, to $21.94, after its quarterly profit beat analysts’ estimates and Boardwalk Real Estate Investment Trust, which rose $2.07, 4.6%, to $46.91, after it raised its full-year outlook for funds from operation.

Aurora Cannabis fell 34 cents, or 7.8%, to $4.04, the most on the TSX, after its quarterly revenue fell short of expectations. The second biggest decliner was Eldorado Gold Corp, down 21 cents or 2.1%, to $10.26.

On the economic front, Statistics Canada said foreign investors acquired $4.8 billion of Canadian securities in September, all corporate securities. At the same time, Canadian investors reduced their holdings of foreign securities by $2.4 billion, led by a divestment in U.S. instruments.

Meanwhile, the Canadian Real Estate Association declared home selling activity was up 12.9% year-over-year (y-o-y). The number of newly listed properties declined by 1.8% month-on-month. The MLS® Home Price Index advanced by 0.6% m-o-m and 1.8% y-o-y.

ON BAYSTREET

The TSX Venture Exchange dropped 0.49 points at 526.66

All but two of the 12 Toronto subgroups were positive, with energy gushing 2.2%, consumer staples and materials each up 0.5%.

Only health-care stocks, off 1.2%, and gold, down 0.3%, missed the party.

ON WALLSTREET

The Dow Jones Industrial Average hit a fresh record high on Friday after White House economic advisor Larry Kudlow said China and the U.S. were getting close to reaching a trade deal.

The blue-chip index roared ahead 153.89 points to 27,935.85

The S&P 500 jumped 18.79 points to another record, at 3,115.41

The NASDAQ surged 54.45 points to 8,533.47, also an all-time high.

The S&P 500 has gained 3.4%, and Dow is up 2.8%, over the past month through Thursday’s close. The NASDAQ has gained 4.1% in that time.

Trade-sensitive names such as Caterpillar, Boeing, Apple and Micron Technology all rose at least 0.7%.

Kudlow, the National Economic Council director, said Thursday that a deal between the two nations was approaching, highlighting constructive discussions with Beijing. His comments came after multiple reports suggested both sides were at loggerheads over the terms of a phase one trade agreement.

Investors also digested mixed data on the U.S. consumer. Retail sales grew by 0.3% in October, topping an estimate of 0.2%. However, the data also showed big-ticket purchases dropped last month.

Prices for the 10-Year U.S. Treasury lost ground, raising yields to 1.83% from Thursday’s 1.81%. Treasury prices and yields move in opposite directions

Oil prices took on 93 cents to $57.70 U.S. a barrel.

Gold prices fell $7.40 to $1,465.80 U.S. an ounce.