Stocks in the country’s biggest centre jumped 1% on Friday as higher crude oil prices supported energy stocks and unexpectedly robust jobs data added to evidence of a pick-up in the domestic economy.
The S&P/TSX Composite Index remained upright122.42 points to greet noon at 13,388.86
The Canadian dollar regained 0.71 cents to 76.77 cents U.S.
The biggest climbers were energy and bank stocks, with Royal Bank of Canada rising 1.3% to $74.58, and Canadian Natural Resources Ltd up 2.9% to $35.37.
Health-care stocks fell, Valeant Pharmaceutical International chief among them, down 4% at $44.84 after sharp gains earlier in the week.
Valeant said on Thursday its lenders had given the company an extra month to file its annual report, offering breathing room as it tries to win back investors.
Industrials rose, with Canadian National Railway Co adding 1.5% to $81.31.
On the economic front, Statistics Canada reported the economy created 41,000 jobs during March, bringing the unemployment rate up 0.2 percentage points to 7.1%. This follows three months of stagnant numbers.
With the gains in March, the agency adds, employment grew by 33,000, or 0.2% in the first quarter, the fourth-consecutive quarter with 0.2% employment growth.
Elsewhere, Canada Mortgage and Housing Corporation reported that housing starts fell in March to 204,251 units, from an upwardly revised 219,077 units in February. Forecasters had expected 190,000 starts.
ON BAYSTREET
The TSX Venture Exchange gained 3.41 points to 600.85
All but three of the 13 TSX subgroups were higher, as metals and mining gained 5.4%, energy was up 2.7%, and gold climbed 1.8%
The three laggards were health-care, down 2.3%, consumer discretionary stocks, off 0.8%, and information technology trailing 0.5%.
ON WALLSTREET
U.S. stocks came off highs in late-morning trade Friday as the yen attempted to reverse earlier weakness to resume strengthening against the U.S. dollar.
The Dow Jones Industrials remained in the green 56.57 points to 17,598.53. UnitedHealth and Nike were the greatest contributors to declines in the Dow, while Boeing was the top contributor to gains.
The S&P 500 added 5.8 points to 2,047.41, as energy led nine sectors higher and consumer discretionary proved the only decliner.
The NASDAQ index reversed into negative country 3.62 points to 4,844.74, as Facebook traded 2% lower
On things economic, wholesale inventories in the states showed a 0.5% decline in February, the sharpest decline since May 2013
Prices for the 10-year Treasury dropped, lifting yields to 1.73% from Thursday’s 1.69%. Treasury prices and yields move in opposite directions.
Oil prices leaped $2.27 a barrel to $39.53 U.S.
Gold prices poked ahead 12 cents to $1,240.57 U.S. an ounce.
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