The Toronto stock market was higher by Friday’s closing as energy stocks advanced while oil prices hit a 16-month high, and traders took in a mixed batch of U.S. earnings.
The S&P/TSX Composite Index added 56.28 points to end Friday at 12,685.13, nearing the six-week high it hit the previous session and appearing on track to post a weekly gain, its fourth in a row.
The Canadian dollar gained 0.10 cents to 96.46 cents U.S.
Commodity prices advanced with Barrick Gold Corp. climbed 82 cents, or 5% to $17.16.
August crude was up after rising as high as $109.32 U.S. a barrel, the highest price since March 1, 2012.
The energy sector was ahead and Canadian Natural Resources gained 43 cents to $34.35.
Techs were also provided a lift as BlackBerry dipped 12 cents to $9.30.
The base metals sector declined while September copper rose one cent to $3.14 U.S. a pound. First Quantum Minerals dropped 57 cents to $15.95.
Utilities were down with Atlantic Power down 13 cents to $4.48.
On the economic ledger, Statistics Canada reported that the Consumer Price Index (CPI) rose 1.2% in the 12 months to June, following a 0.7% increase in May. This 0.5-percentage-point gain in the CPI was led by transportation prices, which rose 2.0% on a year-over-year basis in June after falling 0.5% in May.
ON BAYSTREET
The TSX Venture Exchange grew 5.82 points to 920.39
Eight of the 14 Toronto subgroups were lower on the day, weighed mostly by the metals and mining group, down 2%, global base metals, down 1.1%, and utilities, off 0.5%.
The half-dozen gainers were led by gold, 4.1% higher, materials, better than 2%, and energy, 1.1% stronger.
ON WALLSTREET
The Dow and S&P 500 are set to wrap up a fourth straight week of wins, despite a losing Friday for the Dow.
The NASDAQ Composite on track for its first losing week after three positive weeks, dragged down by poor quarterly results from Google and Microsoft. The tech giants also pressured the broader market Friday.
The Dow Jones Industrials finished lower, though coming to within 4.80 points of breakeven, to 15,543.70
The S&P 500 index recovered 2.70 points to 1,692.07. The NASDAQ eased 23.66 points to 3,587.61
The modest pullback comes one day after both the Dow and S&P climbed to new record highs.
All three indexes are also up sharply for the year. The Dow and S&P 500 have gained nearly 19%, while the NASDAQ has rallied almost 20%.
Investors took some comfort from statements by Fed chairman Ben Bernanke on Wednesday. Bernanke said he would keep the Fed's stimulus policies in place for as long as necessary.
All three indexes are up sharply for the year. The Dow and S&P 500 have gained nearly 19%, while the NASDAQ has rallied almost 20%.
Google and Microsoft reported disappointing quarterly numbers after Thursday's closing bell, sending their shares sharply lower.
Microsoft was hit by a big writedown on its Surface tablet.
Results from two of the world's biggest industrial companies -- General Electric and Honeywell -- pointed to continuing strength in the global economy.
Honeywell raised its outlook for the year, after the company reported better-than-expected earnings.
General Electric reported earnings and sales roughly in line with estimates, and said it saw strong growth in U.S. orders.
Whirlpool raised its guidance for the year as the appliance maker reported a significant gain in quarterly sales and profit.
Schlumberger's stock rose after the energy company reported a bump in sales and profit, driven by drilling successes on land and deepwater.
Chipotle Mexican Grill's stock soared after the restaurant chain reported a jump in same-store sales and profits.
Prices for the 10-year U.S. Treasury gained, lowering yields to 2.49% from Thursday’s 2.53%. Treasury prices and yields move in opposite directions.
Oil prices regained 20 cents to $108.25 U.S. a barrel.
Gold surged $9.80 to $1,294 U.S. an ounce.
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