Canada's main stock index rose on Friday, helped by a bounce back in Valeant Pharmaceuticals International Inc and gains in heavyweight financial stocks.
The S&P/TSX composite index shot higher 85.2 points to greet noon at 13,914.17
The Canadian dollar subtracted 0.38 cents at 77.35 cents U.S.
The most influential mover by far was Valeant, which jumped 2.6% to $222.45, rebounding from a sharp fall the previous day after it said it had been subpoenaed by U.S. prosecutors over its drug pricing and patient-assistance practices.
Gainers included Brookfield Asset Management, which added 1.4% to $43.52, and Toronto-Dominion Bank, which advanced 0.5% to $52.43.
Economically speaking, Statistics Canada reported this morning that foreign investors added $3.1 billion of Canadian securities to their holdings in August, following a $10.1 billion divestment in July. The agency adds that in the same month, Canadian investment in foreign securities resumed with acquisitions totaling $8.7 billion, mainly U.S securities.
Moreover, manufacturing sales edged down 0.2% to $52.1 billion in August, following three consecutive monthly increases.
ON BAYSTREET
The TSX Venture Exchange gave back 0.79 points to 555.92
Eight of the 13 TSX subgroups were higher by noon, with health-care soaring 2.4%, real-estate 1.1% more solid, and utilities 0.9% to the good.
The five laggards were led by metals and mining, collapsing 3.6%, while materials slid 0.9% and gold was off 0.7%.
ON WALLSTREET
U.S. stocks traded in a range Friday amid data releases and continued expectations of a delay in a Fed rate hike.
The Dow Jones industrial average moved up 33.34 points to 17,175.09. with General Electric leading advancers and Caterpillar the greatest laggard.
The S&P 500 took on 5.77 points to 2,029.63, with consumer staples leading seven sectors higher and energy the greatest decliner.
The NASDAQ index regained 9.03 points to 4,879.13, with Apple trading slightly lower.
On the earnings front, General Electric posted earnings per share above expectations, but revenues fell short of estimates.
Honeywell posted earnings that beat on revenue that missed, hurt by the strong U.S. dollar.
On the data front, industrial production declined 0.2% in September, with capacity utilization at 77.5%.
The preliminary read on October consumer sentiment came in at 92.1. JOLTS showed 5.37 million job openings for August.
Prices for 10-year U.S. Treasuries edged up, lowering yields to 2.01% from Thursday’s 2.02%. Treasury prices and yields move in opposite directions.
Oil prices tacked on 30 cents a barrel to $46.88 U.S.
Gold prices docked $1.70 to $1,181.40 U.S. an ounce.
