The Toronto stock market was higher Friday at the end of a positive week as encouraging economic data from the United States continued to improve buying sentiment.
The S&P/TSX composite index greeted noon up 44.66 points, at 14,406.49.
The Canadian dollar improved 0.30 cents at 89.27 cents U.S.
Most TSX sectors were higher with the consumer staples sector ahead.
Loblaw Companies Ltd. has received approval from the Competition Bureau for its $12.4-billion purchase of Shoppers Drug Mart Corp., on the condition that it will sell 18 stores and nine pharmacies.
Loblaw rose $1.43 or 3.1% to $47.65 and Shoppers gained 93 cents or 1.5% to $61.54.
Economic optimism sent commodities higher, with May copper up three cents to $2.96 U.S. a pound and the base metals sector gained ground.
Elsewhere on the corporate front, conductors, yard workers and other train workers at Canadian National Railways have rejected a second tentative contract, prompting the company to suggest the talks go to a form of binding arbitration. Its shares were down 10 cents to $62.74.
BlackBerry shares dipped two cents to $10.59 as it announced the sale of a majority of its real estate holdings in Canada. Terms of the deal and the buyer were not disclosed.
On the economic beat, Statistics Canada reported this morning that consumer prices rose 1.1% in the 12 months to February, following a 1.5% increase in January. On a seasonally adjusted monthly basis, retail inflation rose 0.3% in February, following a 0.2% gain in January.
The agency also reported that retail sales rose 1.3% to $40.7 billion in January, partially offsetting a decline in December. Gains were reported in seven of 11 sub-sectors, representing 83% of total retail sales.
ON BAYSTREET
The TSX Venture Exchange clung to 0.74 points worth of gains to 1,036
All but two of the 14 Toronto subgroups were higher by lunch time. Metals and mining climbed 1.6%, their cousins in the global base metals field not far behind at 1.5%, while consumer staples gained 1.1%.
Health-care was the only "sick" sector, down 0.6%, while telecoms were flat at midday.
ON WALLSTREET
Stocks soared right out of the gate Friday, but the momentum is already starting to fade.
The Dow Jones Industrial Average gained 104.62 points to 16,435.67. The S&P 500 index traveled 8.09 points higher to 1,880.10. The NASDAQ slid 2.44 to 4,316.83
The S&P 500 hit a record high almost immediately after the opening bell in a frenzy of buying that traders said was tied to the expiration of options contracts Friday.
Stocks could be volatile Friday as it's also the day when four futures and options contracts expire -- known as quadruple witching.
Tiffany today reported full-year earnings and sales that fell short of forecasts.
Shares of Darden Restaurants, the parent company of Red Lobster, officially released its latest quarterly results. Darden had warned earlier this month that profits would be down sharply, but the stock did wind up moving higher in early trading.
Nike shares slid after the company said earnings could be squeezed over the next few quarters.
Symantec shares plunged after the company fired its CEO.
Prices for 10-year U.S. Treasuries nicked higher, lowering yields to 2.76% from Thursday’s 2.78%. Treasury prices and yields move in opposite directions.
Oil prices remained positive $1.06 to $99.96 U.S. a barrel.
Gold prices were up $6.40 to $1,336.90 U.S. an ounce.
