Stocks got off to a flying start Friday in Toronto, with energy and financial sector stocks leading broad based gains as oil prices rallied following a report from the International Energy Agency that said the oil market may have reached its bottom.
The S&P/TSX Composite Index leaped 103.17 points to open the week’s last session at 13,482.31
The Canadian dollar recouped 0.67 cents to 75.59 cents U.S.
Hudson's Bay Co plans to invest one billion euros ($1.12 billion U.S.) in its German chain Kaufhof over the next five to seven years.
HBC shares advanced 47 cents, or 2.7%, to $17.77.
National Bank Financial raised the rating on AG Growth International to outperform. AG Growth shares took on 73 cents, or 2.5%, to $30.39.
National Bank raised the rating on First Quantum to outperform from sector perform. First Quantum shares gained 12 cents, or 1.7%, to $7.21.
Canaccord Genuity cut the target price on Gaming Nation to speculative buy from buy. Gaming Nation shares prospered 14 cents to $17.92.
On the economic slate, Statistics Canada reported employment moved downward 2,300 in February, as gains in part-time work were offset by losses in full-time.
The agency also told us the unemployment rate rose by 0.1 percentage points for the third consecutive month, reaching 7.3% for the first time since March 2013.
ON BAYSTREET
The TSX Venture Exchange gained 2.33 points to 576.85
All but two of the 13 TSX subgroups were higher, as energy pushed ahead 2%, metals and mining acquired 1.4%, and health-care was better by 1.3%.
The two laggards were gold, off 0.8%, and telecoms, sliding 0.3%.
ON WALLSTREET
Stocks stateside traded higher Friday, helped by higher oil prices, as investors continued to digest the European Central Bank's stimulus measures.
The Dow Jones Industrial average climbed 158.88 points to 17,154.01, with Goldman Sachs and Chevron the top contributors to gains as all member stocks advanced.
The S&P 500 gained 20.21 points to 2,009.78, with energy leading all 10 sectors higher.
The NASDAQ index dropped 12.22 points to 4,662.16.
In U.S. economic news, February import prices declined 0.3%, while export prices fell 0.4%.
Prices for the 10-year Treasury faded, raising yields to 1.96% from Thursday’s 1.93%. Treasury prices and yields move in opposite directions.
Oil prices charged ahead 93 cents a barrel to $38.77 U.S.
Gold prices docked $7.40 to $1,264.85 U.S. an ounce.
Related Stories
