The Toronto stock market was higher noon Friday amid strong economic data from China and solid earnings reports from south of the border.
The S&P/TSX composite index climbed 77.2 points by noon ET to 13,113.56
The Canadian dollar eked up 0.01 cents to 97.23 cents U.S.
Real-estate stocks surged, primarily First Capital Realty, jumping 2.1% to $17.82.
Telecoms advanced, with Telus ahead 41 cents to $34.91.
The energy sector also rose as Canadian Natural Resources gained 46 cents to $33.72.
The industrials sector rose. The aerospace division of Bombardier Inc. says one of China's top leasing companies is the previously unidentified customer for up to 30 of its new CSeries aircraft.
The buyer, CDB Leasing Co. Ltd., known as CLC, placed a conditional order in July 2011. Based on list prices, the initial contract would be worth about $1.02 billion U.S, and at $2.07 billion U.S. if all options were exercised and Bombardier shares gained nine cents to $5.08, just off the 52-week high of $5.18.
Copper prices also advanced in the wake of the data from China, the world's biggest consumer of the metal. The December contract on the New York Mercantile Exchange rose one cent to $3.31 U.S. a pound. The TSX base metals sector advanced and First Quantum Minerals climbed 21 cents to $18.86.
The gold sector declined. Goldcorp faded 22 cents to $25.04.
On the economic beat, Statistics Canada said consumer prices rose 1.1% in the 12 months to September, matching the increase in August. The market call was for an increase of 1%. The agency added that, on a seasonally-adjusted monthly basis, the Consumer Price Index rose 0.2% in September, following a 0.1% increase in August. Market call was for 0.1%.
ON BAYSTREET
The TSX Venture Exchange lopped off 0.89 points to 950.69
All but three of the 14 Toronto subgroups were ahead by noon, led by real-estate issues, up 1.1%, while telecoms surged 1%, and energy, gaining 0.9%.
The three laggards were gold, down 0.8%, health-care, off 0.2%, and materials, sliding 0.1%.
ON WALLSTREET
One day after the S&P 500 hit a new record high, those indexes continued to climb higher.
The Dow Jones Industrials faded 12.40 points to break for lunch at 15,359.20
The S&P 500 index hiked 6.03 points to 1,739.18, above yesterday’s all-time record. The NASDAQ picked up 33.90 points to 3,894.28, helped by a surge in shares of Google, which topped $1,000 U.S. for the first time.
Google shares soared 13% to a record high after the online search giant reported quarterly earnings and sales that beat expectations.
Shares of Mexican fast food chain Chipotle also surged to an all-time high thanks to strong earnings.
The last of the big banks to report third quarter earnings, Morgan Stanley, wowed investors with earnings and revenue that topped forecasts.
General Electric shares rose more than 2% after the bank reported better-than-expected earnings.
Beyond earnings, British bank HSBC said it will appeal after being ordered to pay at least $2.5 billion U.S. in damages after losing a U.S. class action case against Household International, a mortgage and credit card company that it bought in 2002
China's economic growth also offered some reason for optimism.
China's economy grew 7.8% during the third quarter, the strongest performance since the end of last year.
Economists are becoming less worried that China's growth trajectory will slow down dramatically. The news from China helped send world markets higher
Prices for the 10-year U.S. Treasury inched higher, lowering yields to 2.58% from Thursday’s 2.59%. Treasury prices and yields move in opposite directions.
Oil prices gained 33 cents to $101.00 U.S. a barrel.
Gold prices faded $7.70 to $1,315.30 U.S. an ounce.
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