Markets in Toronto enjoyed a higher open on Friday as hearty risk appetite and strong economic data from Japan supported equities.
The S&P/TSX composite index shot higher 56.45 points to open Friday at 13,574.47
The Canadian dollar dipped 0.2 cents to 93.72 cents U.S.
Base metals stocks led the charge early Friday, as Rio Alto Mining surged 4.4% to $1.66, and Capstone Mining grew in price 2.8% to $2.93.
Gold stocks also strengthened, with Barrick Gold ahead 0.8% to $18.54, and Colossus Minerals ballooning 7.7% to seven cents.
Japan passed the halfway mark toward its inflation goal last month as prices rose the most in five years, while regular wages halted 17 months of declines, underlining progress under Prime Minister Shinzo Abe to revitalize the economy.
The Toronto markets were shuttered Wednesday and Thursday for Christmas and Boxing Day, and traded a half-session on Christmas Eve.
ON BAYSTREET
The TSX Venture Exchange gained 9.25 points to 912.47
All but two of the 14 TSX subgroups were higher at the start of business on Friday, with global base metals gaining 1.2%, gold up 1%, and materials were up 0.7%.
The two laggards were information technology, off 1.1% and utilities, down 0.2%.
ON WALLSTREET
Stocks opened at record highs Friday as investors head into the home stretch of what has been a strong year for Wall Street.
The Dow Jones industrial average gained 22.64 points to open Friday at 16,502.52
The S&P 500 index improved 1.70 points to 1,843.72. The NASDAQ acquired two points to 4,169.18.
On Thursday, the Dow closed at a record high for the 50th time this year.
The S&P 500 also ended at a record high, and the tech-heavy NASDAQ marked a new 13-year high.
Markets have charted big gains this year. The Dow is up more than 25% and S&P 500 has gained nearly 30%. The NASDAQ has soared 38%. The S&P 500 is on pace for its strongest year since 1997.
Shares of Twitter were under pressure following a strong rally this month. Twitter stock has surged some 75% in December and has nearly tripled in price since its November IPO.
Facebook shares have also been on a tear this month. The social network has gained more than 20% in December, but shares were little changed Friday.
Prices for 10-year U.S. Treasuries dipped, raising yields to 3.00% from Thursday’s 2.99%. Treasury prices and yields move in opposite directions.
Oil prices gained 52 cents to $100.07 U.S. a barrel.
Gold prices gained $2.60 to $1,214.90 U.S. an ounce.
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