The Toronto stock market was little changed Friday despite a solid U.S. employment report that signaled a strengthening economy.
The S&P/TSX Composite Index prospered but 32.42 points to approach noon at 12,494.35
The Canadian dollar tacked on 0.08 cents to 101.05 cents U.S.
The TSX found little support from rising commodity prices.
The energy sector added strength as Cenovus Energy climbed 15 cents to $38.04.
The base metals sector advanced as May copper advanced one cent as to $3.81 U.S. a pound. HudBay Minerals was up 19 cents to $11.86.
The gold sector was the biggest drag, as Goldcorp Inc. fell 51 cents to $46.61.
On the economic slate, Statistics Canada said employment was unchanged in February. A decline in the number of people searching for work pushed the unemployment rate down 0.2 percentage points to 7.4%.
Compared with 12 months earlier, employment was up by 121,000, or 0.7%, with the bulk of the increase occurring in the first half of the period.
Elsewhere, the agency also said January exports declined 2.3% and imports edged down 0.6%. As a result, Canada's trade surplus narrowed from $2.9 billion in December 2011 to $2.1 billion in January 2012, for the third consecutive monthly trade surplus.
ON BAYSTREET
The TSX Venture Exchange gained 13.14 points to 1,647.48, while the Nasdaq Canada index moved ahead 4.95 points to 415.94
All but three of the 14 Toronto subgroups were in the green at noon hour. Metals and mining issues were 1.6% stronger, global base metals gained 1.1%, and materials tacked on 0.6%.
The three laggards were health-care stocks, down 0.3%, utilities, sliding 0.1%, and real-estate, down 0.01%.
ON WALLSTREET
In New York, a slightly better-than-expected jobs report and positive news out of Greece lifted stocks for a third straight day on Friday.
The Dow Jones Industrials added 43.63 points by lunch time, off its highs of the day, to 12,951.60.
The S&P 500 gained 7.89 points to 1,373.80, while the Nasdaq strengthened 21.79 points to 2,992.21
Friday also marks the third anniversary of a bull market. The S&P 500 and Nasdaq have more than doubled in value from the bear market lows on March 9, 2009. The Dow is up more than 97%.
Green Mountain Coffee Roasters shares dropped after Starbucks announced that it will begin selling a single-service coffee machine of its own.
Green Mountain currently dominates the single-serve market with its popular Keurig, or K-Cup, machines.
In Greece, creditors agreed to a plan to restructure Greek bonds, government officials said Friday. More than 85% of private bondholders agreed to the deal, Deputy Prime Minister Evangelos Venizelos said in a statement.
The agreement on private-sector involvement, as it is known, was the final hurdle Greece must clear to meet all the conditions of its second €130-billion bailout program from the European Union and International Monetary Fund.
European finance officials could approve the final portion of Greece's bailout as early as Friday -- staving off, for now, the prospect of a disorderly default.
Economically speaking, the jobs report showed that the U.S. economy added 227,000 jobs in February, and the unemployment rate remain unchanged at 8.3%. That's down from January, when employers added 243,000 jobs.
A survey of 19 economists had predicted that the economy added 210,000 jobs in February, with an 8.3% unemployment rate.
The U.S. trade deficit for January totaled $52.6 billion U.S., up from $50.4 billion U.S. in December.
Wholesale inventories for January increased by 0.4%, after increasing 1.1% the month prior. Economists were expecting a 0.6% rise.
Treasury prices for the 10-year note dropped, raising yields to 2.04% from Thursday’s 2.01%. Treasury prices and yields move in opposite directions.
Oil for February delivery gained $1.21 to $107.79 U.S. a barrel.
Gold futures for April delivery added $10.40 to $1,709.10 U.S. an ounce.
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