Canada's main stock index rose on Friday, boosted by gains in the heavy-weight financial sector as well as energy shares, which increased on the back of a rise in oil prices.
The S&P/TSX Composite Index came off its highs of the morning, but still advanced 83.23 points to greet noon at 16,082.24
The Canadian dollar lurched lower 0.64 cents at 75.32 cents U.S.
Gains in the sector were led by shares of Martinrea International, which was up 11 percent after the auto supplier's fourth-quarter revenue beat analysts' estimates. Martinrea shares rocketed 98 cents, or nearly 8%, to $13.25.
The largest percentage gainer on the TSX was Parkland Fuel Co, which rose $2.39, or 6.5%, to $39.21, after the company raised its dividend.
Kinaxis Inc fell $7.43, or 9%, the most on the TSX, to $75.30, after the cloud-based software provider's quarterly revenue missed estimates.
The second biggest decliner was First Capital Realty, down 75 cents, or 3.5%, to $20.67, after entering deal to buy majority stake in Gazit Globe Ltd.
On the economic calendar, Statistics Canada says real gross domestic product figures slowed to 0.1% in the fourth quarter, the slowest pace since the second quarter of 2016.
ON BAYSTREET
The TSX Venture Exchange lost 0.14 points to 623.40
All but three of the 12 TSX subgroups were higher midday, as technology issues strengthened 1.2%, consumer discretionary climbed 0.9%, and consumer staples gained 0.8%.
The three laggards were communications, sinking 1.3%, real-estate, off 0.5%, and gold, down 0.1%.
ON WALLSTREET
Stocks gave back most of their gains on Friday following the release of weaker-than-expected U.S. economic data.
The Dow Jones Industrial Average came off its highs of the morning, but remained in the green 61.99 points to 25,977.99
The S&P 500 stayed afloat 9.26 points to 2,793.75,
The NASDAQ Composite was up 35.78 points to 7,568.31.
Friday's moves come a day after the major indexes posted solid monthly gains in February, pushing the S&P 500 to its best start to a year since 1991. The S&P 500 is up more than 11% for the year, along with the Dow. The NASDAQ Composite, meanwhile, is up 13.5%.
Shares of Tesla dropped more than 4% after Tesla launched its standard Model 3 car, which starts at $35,000. However, analysts were unimpressed by the announcement. A Barclays analyst even called it the "un-iPhone moment."
The Institute for Supply Management released data showing U.S. manufacturing activity expanded at its slowest pace since November 2016. Meanwhile, the University of Michigan consumer sentiment index came in below expectations for February.
Bloomberg News reported Thursday that U.S. officials are getting a final trade deal ready for President Donald Trump and Chinese President Xi Jinping to sign around mid-March.
Prices for the benchmark 10-year U.S. Treasury slipped, raising yields to 2.74% from Thursday’s 2.72%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.38 to $55.84 U.S. a barrel.
Gold prices tumbled $14.80 to $1,301.30 U.S. an ounce.
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