Equities in Canada’s biggest centre rose to a fresh 19-month high on Friday, led by the heavyweight energy and financial groups as oil and bond yields climbed.
The S&P/TSX Composite gained 42.01 points to begin the last trading day of the week at 15,337.21
The Canadian dollar added 0.07 cents to 75.88 cents U.S.
BRP Inc reported a better-than-expected quarterly profit as it sold more year-round products. The company also raised its current -year adjusted earnings forecast to $1.86-$1.96 per share, from $1.82- $1.92.
BRP shares hiked $1.44, or 5.6%, to $27.18.
RBC raised the target price on Cenovus Energy to $25.00 from $24.00, saying that the company’s 2017 budget strikes the right balance between growth, capital discipline and financial strength.
Cenovus shares picked up 21 cents, or 1%, to $20.69.
Canaccord Genuity raised the target price on Lumenpulse Inc to $22.00 from $20.00, to reflect the company’s increased short-term visibility and differentiated positioning in the market.
Lumenpulse shares hiked 18 cents, or 1%, to $17.68.
ON BAYSTREET
The TSX Venture Exchange recovered 0.88 points to 750.38
Eight of the 12 TSX subgroups were higher, led by health-care, up 2.4%, while energy and financials each climbed 0.5%.
Gold weighed the four laggards, slumping 1.5%, materials, down 0.2%, and telecoms, off 0.1%.
ON WALLSTREET
U.S. equities traded higher on Friday, with the major indexes on pace for strong weekly gains, as a post-election rally carried on.
The Dow Jones Industrials added to Thursday’s all-time high, acquiring 26.47 points to 19,641.28, with 3M contributing the most gains.
The S&P 500 gained 5.18 points to 2,251.37
The NASDAQ composite index climbed 22.86 points to 5,440.21
All the major indexes have been hitting record highs since the election of Donald Trump as U.S. president. In fact, the Dow has notched 13 record closes and gains in 19 of the past 23 sessions, entering Friday. The major indexes were also set to post weekly gains of at least 2%.
In economic news, consumer sentiment for December hit its highest level since January 2015 and wholesale inventories for October showed a decline of 0.4%
Treasury prices for the 10-year note slouched, raising yields to 2.42% from Thursday’s 2.4%. Treasury prices and yields move in opposite directions.
Oil prices moved up 51 cents to $51.35 U.S. a barrel
Gold prices slid $7.50 to $1,164.90 U.S. an ounce.
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