Equities in Toronto extended a 19-month high on Friday, aiming for a 1.8% jump over the week as heavyweight energy and bank stocks gained with rising oil prices and bond yields.
The S&P/TSX Composite gained 42.01 points to greet noon at 15,337.21
The Canadian dollar added 0.07 cents to 75.88 cents U.S.
Health-care stocks were strongest, with Valeant Pharmaceuticals up nine cents to $20.46
The energy group climbed, with shares in major player Suncor Energy up 0.7% to $43.15, as crude gained ahead of a weekend meeting of producers that could result in a agreement for further production cuts.
Cenovus Energy Inc added 1.6% to $20.81 a day after it said it planned to increase its 2017 capital budget by about 24% and continue work on the expansion of its oil sands project in Christina Lake.
Among financials, Royal Bank of Canada advanced 0.7% to $90.06 and Toronto-Dominion Bank rose 0.7% to $65.61.
Fairfax Financial Holdings shares slipped 0.5% to $605.97, as its subsidiary, one of the shareholders who helped keep Bank of Ireland out of state hands in 2011, is selling half of its remaining stake in the Irish lender.
Shares in BRP Inc – the Ski-Doo people -- jumped 6.7% to $27.47, having reported a better-than-expected quarterly profit as it sold more year-round products.
ON BAYSTREET
The TSX Venture Exchange recovered 0.88 points to 750.38
Eight of the 12 TSX subgroups were higher, led by health-care, up 2.4%, utilities gained 0.8%, and consumer staples gained 0.6%.
Gold weighed the four laggards, slumping 2.9%, materials were down 1.5%, and information technology, were off 0.3%.
ON WALLSTREET
U.S. equities traded higher on Friday, with the major indexes on pace for strong weekly gains, as a post-election rally carried on.
The Dow Jones Industrials added to Thursday’s all-time high, acquiring 47.47 points to 19,662.28, with Apple and Walt Disney contributing the most gains.
The S&P 500 gained 5.81 points to 2,252, also hitting record levels, with health-care leading advancers.
The NASDAQ composite index climbed 20.92 points to 5,438.28
All the major indexes have been hitting record highs since the election of Donald Trump as U.S. president. In fact, the Dow has notched 13 record closes and gains in 19 of the past 23 sessions, entering Friday. The major indexes were also set to post weekly gains of at least 2%.
In economic news, consumer sentiment for December hit its highest level since January 2015 and wholesale inventories for October showed a decline of 0.4%
Treasury prices for the 10-year note slouched, raising yields to 2.47% from Thursday’s 2.4%. Treasury prices and yields move in opposite directions.
Oil prices moved up 65 cents to $51.49 U.S. a barrel
Gold prices slid $9.80 to $1,162.60 U.S. an ounce.
