Equity markets in Toronto climbed on Friday as shares of oil companies and gold miners gained along with crude and bullion prices after data showed a big drop in U.S. consumer prices in December and steady inflation.
The S&P/TSX composite index surged 170.16 points, or 1.2%, to break for midday at 14,211.98
The Canadian dollar stayed negative 0.19 cents to 83.42 cents U.S.
The gain on the Toronto stock market's benchmark TSX index came after declines in each of the last five sessions. It looked on track to record a drop for this week, when market volatility surged due to choppy oil prices and Switzerland's move to abandon its more than three-year-old ceiling on the franc's value against the euro.
Shares of oil producers jumped, Canadian Natural Resources adding 6.1% to $34.64, and Suncor Energy rose 4.5% to $35.76.
The gold-mining sector gained, helped by a higher bullion price. Barrick Gold rose 4.1% to $14.18, and Goldcorp was up 3.9% at $28.23.
ON BAYSTREET
The TSX Venture Exchange charged ahead 5.37 points to 664.61.
All but two of the 14 Toronto subgroups were higher, as energy gushed 5%, gold shone 3.3% brighter, and the beleaguered metals and mining sector recovered 3.1%.
The two laggards were financials, down 0.2%, and consumer staples, down 0.1%.
ON WALLSTREET
U.S. stocks rose on Friday after a five-session losing streak, with energy leading gains as U.S. crude rose and as investors considered a mixed bag of economic reports.
The Dow Jones Industrials recovered 33.43 points to 17,354.14, with Exxon Mobil and Chevron leading blue-chip gains that extended to 21 of 30 components.
The S&P 500 moved forward 10.86 points to 2,003.53, with energy leading gains and industrials the sole sector of 10 in decline.
The NASDAQ index moved up 25.01 points to 4,595.83
Intel turned lower after the maker of computer chips reported quarterly results. Goldman Sachs Group also fell after the investment bank reported a 7% decline in quarterly profit.
PNC Financial Services Group rose after the regional bank reported solid fourth-quarter results.
The U.S. Labor Department reported the consumer-price index declined 0.4% in December following a 0.3% fall the month before.
The University of Michigan's preliminary consumer sentiment index climbed to 98.2 from a final 93.6 December reading.
A third report had factory production slowing in December, up 0.3% versus a 1.3% increase in output in November.
Prices for 10-year U.S. Treasuries dipped, raising yields to 1.79% from Thursday’s 1.78%. Treasury prices and yields move in opposite directions.
Oil prices moved higher $1.07 per barrel to $47.32 U.S.
Gold prices added $15.00 an ounce to $1,279.80 U.S.
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