Equities in Toronto maintained gains on Friday as higher oil prices helped heavyweight energy stocks lead broad gains and gold miners recovered as the price of the precious metal steadied.
The S&P/TSX Composite remained aloft 57.3 points to greet noon at 15,275.61
The index is headed for a slight slip on the week after notching a 1.7% hike in the prior week.
The Canadian dollar dropped 0.29 cents to 74.98 cents U.S.
The most influential gainers included major energy producers Canadian Natural Resources Ltd, which rose 1% to $44.63, and Suncor Energy up 0.9% to $44.17.
Bombardier jumped 3.3% to $2.02. The plane and train maker said it is still seeking funds from the federal government despite improved liquidity, as the company assured investors it is prepared to deal with the cost of value guarantees for older jets.
Industrials added strength, as big railway stocks also gained. Canadian Pacific Railway advanced 1.2% to $196.41 and rival Canadian National Railway Co was up 0.5% to $89.99.
On the economic beat, Statistics Canada reported that foreigners increased their holdings in Canadian instruments to $15.8 billion in October, most of them debt securities, while Canadians added $2.1 billion of foreign securities to their holdings, the lion’s share of them U.S. corporate instruments.
ON BAYSTREET
The TSX Venture Exchange regained 0.92 points to 731.31
Eight of the 12 TSX subgroups were higher midday, led by gold, up 2%, real-estate, better by 1.6%, and utilities, surging 1%.
The four laggards were weighed most by information technology, sliding 1%, health-care, down 0.8%, and telecoms, dipping 0.4%.
ON WALLSTREET
U.S. stocks came off session highs Friday as some concerns of geopolitical tension surfaced.
The Dow Jones Industrials held onto 11.51 points worth of gains by noon to 19,863.75, with 3M and Boeing contributing the most to gains and Goldman Sachs having the greatest negative impact on the index.
The S&P 500 inched lower 1.92 points to 2,260.11, with utilities leading seven sectors higher and technology the greatest decliner.
The NASDAQ composite index subtracted 10.48 points to 5,446.37
Media reports came out in late morning trade that a Chinese Navy warship has seized an underwater drone deployed by an American oceanographic vessel in international waters in the South China Sea, triggering a formal diplomatic protest from the United States and a demand for its return
Economically speaking, U.S. housing starts fell a more-than-expected 18.7% in November to a seasonally adjusted annual rate of 1.09 million units. Building permits declined 4.7%.
Treasury prices for the 10-year note moved higher, lowering yields to 2.57% from Thursday’s 2.6%. Treasury prices and yields move in opposite directions.
Oil prices picked up $1.02 to $51.92 U.S. a barrel
Gold prices regained $10.90 to $1,140.70 U.S. an ounce.
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