Equity markets in Toronto moved into the weekend building on gains acquired in the latter part of a very turbulent week, with commodities leading the parade.
The S&P/TSX composite index added 98.40 points to end Friday and the week at 13,865.07.
The Canadian dollar docked 0.13 cents to 75.63 cents U.S.
Gold stocks enjoyed the most success Friday, with Guyana Goldfields triumphing 39 cents, or 10.6%, to $4.08, while Rubicon Minerals hiked eight cents, or 8.7%, to $1.00
Energy stocks proved worthy runners-up, as Trican Well Services gushed 29 cents, or 19.7%, to $1.76, while Trilogy Energy shot up 72 cents, or 18%, to $4.72.
Metals and mining stocks also had a strong showing, as Major Drilling Group strengthened 30 cents, or 7.7%, to $4.19. First Quantum Minerals was the most actively traded stock, gaining 18, or 2.6%, to $7.05, on 8.8 million shares.
Consumer staples put a damper on things, as North West Company stock faded 57 cents, or 2.1%, to $26.84, and Alimentation Couche-Tard demurred 44 cents, or 0.8%, to $56.64.
Statistics Canada reported this morning that its industrial product price index increased 0.7% in July, due mostly to higher vehicle prices, while its raw materials price index went south 5.9% during the same month, led by lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange gained 10.12 points to 555.67
Nine of the 14 TSX subgroups gained ground, mostly gold, up 3.7%, energy, better by 2.7%, and materials, stronger 2.3%.
The five laggards were led by consumer staples, sliding 0.6%, while real-estate and financials dipped 0.5% each.
ON WALLSTREET
U.S. stocks closed narrowly mixed on Friday, winding down several turbulent trading days with gains for the week.
The Dow Jones industrial average erased 11.76 points from two straight days of major gains to 16,643.01, with Wal-Mart and Johnson & Johnson the greatest weights on the index. The blue-chip index was down 6.6% at its lows for the week and ended up 1.1% in its biggest reversal since the last week of October 1987.
Chevron led advancers and Pfizer was the greatest decliner. Apple posted gains of 7.1% for the week as the greatest gainer, while Pfizer lost 2.6% as the greatest laggard on the week.
The S&P 500 fought its way into the green 1.19 points to 1,988.85, holding a 0.9% gain for the week. Energy was the greatest advancer and health-care leading five sectors lower.
The NASDAQ index moved higher 15.62 points to 4,828.32. The index ended up about 2.5% for the week, recovering more than a 8.8% plunge, in its biggest intra-week reversal on record.
The final read on August consumer confidence from the University of Michigan came in at 91.9, slightly lower than the initial print and July's figure.
Other data showed an increase of 0.4% in personal income and an increase of 0.3% in consumer spending.
In an interview with the media, Fed Vice Chair Stanley Fischer said it is too 'early to tell' if a case for a September rate hike is more or less compelling.
Prices for 10-year U.S. Treasuries lost ground, raising yields back to Thursday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices regained $2.84 a barrel to $45.40 U.S.
Gold prices gained $11.10 to $1,133.70 U.S. an ounce.
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