Equities in Toronto edged up on Friday after data showed the domestic economy had grown more than expected in January, boosting investor confidence, and Rogers Communications also surged post a government nod for its billion-dollar deal.
The TSX grabbed 174.13 points to pause for lunch Friday at 20, 115.18.
The Canadian dollar captured 0.21 cents to 73.91 cents U.S.
Rogers Communications reversed earlier gains and fell $1.99, or 3.1%, to $62.51 after its $20-billion bid for Shaw Communications was cleared by the federal government, making it the country's number-two telecoms firm.
Shares of Shaw communications advanced $1.28, or 3.3%, to $40.44.
First Quantum Minerals added 66 cents, or 2.2% to $31.41, after Rio Tinto said the miners will form a joint venture to develop the La Granja copper project in Peru, with the Canadian miner buying a 55% stake in the project.
On the economic front, Statistics Canada reported Gross Domestic Product rose 0.5% in January, as both goods-producing industries and services-producing industries expanded during the month.
ON BAYSTREET
The TSX Venture Exchange grew 3.19 points to 633.20.
All but two of the 12 TSX subgroups were higher, with consumer discretionary advancing 2.1%, information technology hiking 2%, and industrials stronger 1.2%.
The lone laggards proved to be communications, down 0.2%, gold, dulling in price 0.02%.
ON WALLSTREET
Stocks rose Friday as Wall Street wrapped up a volatile, but winning quarter that saw more Federal Reserve rate tightening and a mini-financial panic spurred on by the collapse of Silicon Valley Bank.
The Dow Jones Industrials leaped 233.68 points to 33,092.71.
The S&P 500 hiked 33.37 points, to 4,084.20.
The NASDAQ grabbed 127.45 points, or 1.1%, to 12,140.92.
The market got a slight boost Friday after the Federal Reserve’s preferred inflation gauge showed a less-than-expected increase in prices.
The core Personal Consumption Expenditures index, which excludes energy and food costs, rose 0.3% in February, less than the 0.4% expected by economists polled by Dow Jones.
The S&P 500 has gained 5.5% and NASDAQ is ahead 14.8%, for the first quarter through Thursday’s close. The Dow is down slightly. For the month the S&P 500 is better by 2% and NASDAQ has gained 4.9%. The Dow, meanwhile, is up 0.6% through Thursday’s close.
Prices for the 10-year Treasury were higher, lowering yields to 3.52% from Thursday 3.55%. Treasury prices and yields move in opposite directions.
Oil prices moved higher 92 cents to $75.29 U.S. a barrel.
Gold prices docked a dime to $1,997.60 U.S. an ounce.
Stocks Heighten on Last Day of Quarter
