Equity markets in Canada’s largest centre rose on Friday, recouping some of this week's losses, following comments from the Federal Reserve that soothed broader concerns about global growth and data that showed the U.S. economy, Canada's largest trading partner, expanded more than forecast.
The S&P/TSX composite index jumped 101.79 points to greet noon at 13,440.46
The Canadian dollar eased 0.12 cents at 75.04 cents U.S.
A fall in BlackBerry Ltd shares modestly tempered some of the gains, however. Shares fell 4.2% to $8.97, after the smartphone maker reported weaker-than-expected quarterly results on Friday.
The most influential positive movers on the index included Canadian National Railway, which rose 2.5% to $74.97, and Toronto-Dominion Bank, which advanced 1.5% to $51.77.
The industrials group, home to CN Rail, climbed 1.8%.
Energy stocks also saw a modest bounce, alongside higher crude prices, with Suncor Energy up 1.3% at $34.92.
The resource-laden TSX has regularly tracked volatility in commodity markets hit by concerns over global growth, and supply and demand.
Among the decliners, gold miners were the worst hit. Stocks tracked gold prices that slumped after comments from Fed chair Janet Yellen boosted the U.S. dollar.
Barrick Gold Corp gave back 2% to $8.55.
ON BAYSTREET
The TSX Venture Exchange slid 0.16 points to 544.03
All but four of the 14 TSX subgroups were higher, with industrials growing 1.8%, financials richer by 1.2%, and utilities better by 1.1%.
The four laggards were weighed most by metals and mining, turning lower 1.5%, health-care down 1.4%, and gold, sliding 0.9%.
ON WALLSTREET
U.S. stocks traded sharply higher Friday, attempting to bounce from three days of selling, as investors digested Fed Chair Janet Yellen's remarks on rates.
Dow Jones industrial average raced ahead 164.79 points, or 1%, to 16,366.11, with Nike contributing to most of the index's outperformance with a 9% jump.
The S&P 500 hiked 13.76 points to 1,946. Financials led S&P 500 advancers with gains of more than 1.5%
The NASDAQ index gained 13.41 points to 4,747.89. Apple turned lower to pressure the NASDAQ, which clung to gains for 2015 on an intraday basis.
Nike reported earnings after the close Thursday that beat on both the top and bottom line, higher prices and strength in the China market.
On the earnings front, BlackBerry and Finish Line both posted results before the bell.
BlackBerry lost an adjusted 13 cents U.S. per share for its latest quarter, four cents wider than estimates. Its revenue was well short of forecasts, and it projected "modest" sequential quarterly revenue growth for the rest of fiscal 2016.
Finish Line matched estimates with adjusted quarterly profit of 57 cents U.S. per share. Revenue missed analyst forecasts, however, as same-store sales rose 1.5%.
On the data front, the second revision for second-quarter Gross Domestic Product was revised higher to 3.9%, boosted by stronger consumer spending and construction.
Consumer sentiment fell for the third straight month in September to 87.2, the lowest in nearly a year.
Prices for 10-year U.S. Treasuries slumped, raising yields to 2.18% from Thursday’s 2.13%. Treasury prices and yields move in opposite directions.
Oil prices gained 29 cents a barrel to $45.20 U.S.
Gold prices dipped $8.30 to $1,145 U.S. an ounce.
