Equities in Canada’s largest market edged higher for the seventh straight session on Friday as gains for the materials group offset lack of progress in financials.
The S&P/TSX Composite advanced 13.62 points to begin the final session before Christmas at 15,348.85
The Canadian dollar sank 0.61 cents to 73.83 cents U.S.
Raymond James raised the rating on Oceanagold Corp. to strong buy from outperform.
Oceanagold shares squeaked higher three cents to $3.42.
Dundee cut the rating on Sun Life Financial to neutral from buy. Sun Life shares doffed 48 cents to $51.67.
Dundee raised the target price on Royal Bank of Canada to $93 from $87. Shares in Canada’s largest bank fell 14 cents to $91.88.
On the economic beat, Statistics Canada reported the economy lost some steam during October, as gross domestic product was down 0.3%, after four straight upward months.
The agency said widespread decreases in manufacturing output and lower oil and gas extraction were the major contributors to the decline.
ON BAYSTREET
The TSX Venture Exchange gained 3.63 points to 723.78
All but three of the 12 TSX subgroups were higher to begin the session, as gold sprinted 1.1% higher, materials bettered themselves by 0.5%, and telecoms surged 0.4%.
Only health-care, down 0.1%, and energy, easing 0.02%, missed the party, as did financials, which were unchanged.
ON WALLSTREET
U.S. equities hovered around breakeven on Friday ahead of the Christmas holiday, as the Dow Jones industrial average tried again to reach the psychologically-important level of 20,000.
The Dow poked higher 4.82 points to 19,923.70
The S&P 500 gained 1.22 points to 2,262.18, with health-care leading advancers.
The NASDAQ composite index added 5.71 points to 5,453.14
The three major indexes were on track to post slight weekly gains as of Thursday's close.
Trading volume in the U.S. has evaporated this week, as most investors and traders have left their offices in light of the Christmas holiday. U.S. markets will be closed Monday in observance of the holiday.
In economic news, consumer sentiment for December and new home sales data for November were both due this morning.
Treasury prices for the 10-year note were higher, lowering yields to 2.54% from Thursday’s 2.56%. Treasury prices and yields move in opposite directions.
Oil prices dropped 27 cents to $52.68 U.S. a barrel
Gold prices gained $2.70 to $1,133.40 U.S. an ounce.
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