Energy prices powered more advances by Canada’s main stock index. Heavyweight financial stocks also moved higher, with the index tracking for a 1.9% weekly gain.
The S&P/TSX Composite Index leaped 120.2 points to greet noon at 13,499.34
The Canadian dollar flew 0.83 cents to 75.75cents U.S.
The energy group climbed, as crude prices were supported by an optimistic report from the International Energy Agency, saying the market may have reached its bottom.
Cenovus Energy advanced 3.5% to $17.18, Suncor Energy Inc gained 1.4% to $34.76, and Canadian Natural Resources rose 1.5% to $35.77.
The energy gain came despite an 8.6% fall to $3.20 for Canadian Energy Services & Technology, which reported a loss on lower revenue and forecasting that 2016 would be even more challenging.
Other influential gainers included Canadian National Railway, which rose 1.1% to $79.58, and insurer Manulife Financial, which added 1.4% to $18.49.
The materials group, which includes precious and base metals miners and fertilizer companies, slipped as gold miners pulled back from recent solid gains.
Barrick Gold Corp was off 0.6% at $18.81 and Eldorado Gold Corp declined 3.7% to $4.66.
On the economic slate, Statistics Canada reported employment moved downward 2,300 in February, as gains in part-time work were offset by losses in full-time.
The agency also told us the unemployment rate rose by 0.1 percentage points for the third consecutive month, reaching 7.3% for the first time since March 2013.
ON BAYSTREET
The TSX Venture Exchange gained 0.26 points to 574.78
All but three of the 13 TSX subgroups were higher, as health-care climbed 2.2%, energy was 2.1% more energetic, and consumer discretionaries gained 1.2%.
The three laggards were gold, down 1.7%, materials, sliding 0.6%, and telecoms, off 0.2%.
ON WALLSTREET
American stocks traded higher Friday, helped by higher oil prices, as investors continued to digest the European Central Bank's stimulus measures.
The Dow Jones Industrial average climbed 213.27 points, or 1.3%, to 17,208.40, with Home Depot and Boeing the top contributors to gains. The Dow topped its 200-day moving average for the first time in intraday trade since Dec. 31.
The S&P 500 gained 26.98 points to 2,016.55, with energy leading nine sectors higher and telecommunications the only decliner.
The NASDAQ index popped 64.7 points, or 1.4%, to 4,726.85.
In U.S. economic news, February import prices declined 0.3%, while export prices fell 0.4%.
Prices for the 10-year Treasury faded, raising yields to 1.98% from Thursday’s 1.93%. Treasury prices and yields move in opposite directions.
Oil prices were positive 79 cents a barrel to $38.63 U.S.
Gold prices docked $13.22 to $1,259.03 U.S. an ounce.
