Equities in Toronto looked set to extend an eight-day rally on Friday as investors took cheer from evidence of a gradual acceleration in euro-zone growth and a resolution to Italy's most recent political crisis.
The S&P/TSX composite index bolted upward 101.16 points to close Thursday at 14,001.65
The Canadian dollar improved 0.15 cents U.S. early Thursday to 91.24 cents U.S.
Enbridge Inc reported a fourth-quarter loss, mainly due to losses on hedging contracts.
Fairfax Financial Corp said on Thursday it had a loss in the fourth quarter, as its equity hedges lost money in a strong market.
West Fraser Timber Co Ltd reported a slight decline in adjusted fourth-quarter profit on Thursday as higher lumber prices were outweighed by reduced shipments.
Slightly stronger-than-expected growth in Germany and France pushed the euro-zone's recovery up a gear in the fourth quarter and offered potential for a more robust 2014.
On the economic front, Statistics Canada reported that manufacturing sales in Canada decreased 0.9% in December, mostly the result of a dip by transportation equipment sales.
ON BAYSTREET
The TSX Venture Exchange recovered 4.72 points Thursday to 986.45
ON WALLSTREET
Investors may not be giving the markets much love Friday, with little in the way of major corporate or economic news to provide a spark.
Ahead of the opening bell, futures for the Dow Jones Industrials inched forward eight points to 15,987. Futures for the S&P 500 dropped one point to 1,823, and futures for the NASDAQ gained eight points, or 0.2%, at 3,659.
In corporate news, Jos. A. Bank shares rallied in pre-market trading after the clothing retailer announced that it was acquiring Eddie Bauer for $825 million U.S.
Also, companies including Campbell Soup and Hyatt Hotels were set to release quarterly results before the opening bell.
Kraft Foods shares rose in after-hours trading Thursday following quarterly results that beat expectations.
U.S. stocks finished higher Thursday. The Dow Jones industrial average has made gains in five of the last six trading days.
European markets were firmer in morning trading, drawing some support from slightly stronger-than-expected fourth-quarter growth figures. Euro-zone GDP rose by 0.3%, compared with the third quarter, and rose by 0.5% compared to the year-ago quarter, in its first sign of annual growth since 2011.
Asian markets ended mixed, with gains in Shanghai and Hong Kong but another hefty fall for Tokyo's Nikkei 225, the Japan index plummeting 1.5%.
Oil prices dipped 24 cents to $100.11 U.S. a barrel
Gold prices added $16.80 to $1,316.90 U.S. an ounce.
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