The Toronto stock market advanced for a second day Friday as Canadians headed into the Victoria Day holiday weekend.
The S&P/TSX composite index bolted higher 80 points to close the day and week at 15,108.12
The Canadian dollar dropped 0.26 cents to 83.18 cents U.S.
Markets in Canada will be closed Monday for Victoria Day.
Utilities and industrials vied for top spot among gainers, as Just Energy Group mushroomed 43 cents, or 6.9%, to $6.68, while Superior Plus Inc. grew in price 30 cents, or 2.2%, to $14.11.
Among industrials, Stantec hopped $1.23, or 3.6%, to $35.75, while Newalta Inc. gained 66 cents, or 4.4%, to $15.68.
In the consumer staples sector – another star gainer – Alimentation Couche-Tard gained 60 cents, or 1.3%, to $47.35.
Financials missed the parade, however, as Manulife shares faded 31 cents, or 1.4%, to $22.60
On the economic scene, Statistics Canada reported our international transactions in securities were up significantly in March to $22.5 billion. Foreign acquisitions of Canadian private corporate securities accounted for the bulk of this activity. At the same time, Canadian investors reduced their holdings of foreign securities by $3.2 billion, all debt instruments.
Moreover, manufacturing sales manufacturing sales rose 2.9% to $51.0 billion in March, the second increase in six months.
Experts predicted Canadian factory sales would rise 1.2% in March after unexpectedly falling 1.7% in February.
Finally, the Canadian Real Estate Association reported national home sales activity rose 2.3% from March to April.
ON BAYSTREET
The TSX Venture Exchange poked higher 3.31 points to 695.31
All but three of the 14 Toronto subgroups were positive on the day, as utilities and industrials each surged 1%, while consumer staples climbed 0.9%.
The three laggards were financials and health-care, each down 0.2%, while global base metals settled 0.01%.
ON WALLSTREET
U.S. stocks closed narrowly mixed in choppy trade on Friday, as disappointing data weighed on investor sentiment amid dollar declines and lower bond yields.
The Dow Jones Industrials was positive 20.32 points to 18,272.56, less than 20 points below its record close, with Cisco leading gains and Microsoft the greatest laggard.
The S&P 500 index improved 1.27 points on Thursday’s record close to 2,122.37, with utilities leading seven sectors higher and financials the greatest laggard.
The NASDAQ fell four points to 5,046.80
Netflix jumped more than 4.5% to above $600 U.S. a share for the first time after Chinese media executives at BesTV New Media and Wasu Media Holding told the Wall Street Journal they have held early talks with Netflix. No decisions were made.
CLSA reduced its fiscal year 2016 estimates and price target on Keurig Green Mountain to $103 from $108 U.S. after the coffee-machine maker's Kold system demonstration gave higher-than-anticipated suggested pricing. CLSA maintains an "underperform" rating on the stock and projects lower household penetration.
Google said in a blog post that it would send self-driving cars to public roads this summer.
JPMorgan upgraded Yum Brands to "overweight" from "neutral," noting greater potential for spinning off China operations.
Goldman Sachs upgraded UPS to "buy" from "neutral" and raised its price target to $119 U.S., citing a positive skew in the risk/reward proposition and stronger-than-expected pricing in ground delivery services. Goldman also raised its view on logistics firms to "attractive" from "neutral."
Industrial production fell 0.3% in April, the fifth straight month of declines as reduced mining and utilities output weighed, Reuters said. Expectations were for a gain of 0.1%.
The University of Michigan's consumer sentiment report came in at 88.6, the lowest in seven months.
Prices for 10-year U.S. Treasuries gained sharply, lowering yields to 2.15% from Thursday’s 2.24%. Treasury prices and yields move in opposite directions.
Oil prices doffed seven cents a barrel to $59.81 U.S.
Gold prices slid one dollar to $1,224.20 U.S.
