Canada's main stock index closed the day, week, month and quarter out with a band, after economic data showed the country's domestic economy unexpectedly grew in April despite effects of bad weather.
The S&P/TSX Composite Index gained 97.84 points to finish Friday and June at 16,277.73
The Canadian dollar gained 0.64 cents at 76.07 cents U.S.
Markets in Canada will be closed Monday for the Canada Day holiday
First Quantum Minerals jumped $1.16, or 6.4%, to $19.36 after sources told media outlets that the copper miner could be a takeover target of global miner Rio Tinto Plc
Elsewhere in materials, Teck Resources grew 79 cents, or 2.4%, to $33.49.
Novagold Resources gained 10 cents, or 1.7%, to $5.89, while Barrick Gold surged 38 cents, or 2.3%, to $17.27.
Among energy concerns, shares of Enbridge, which rose $3.10, or 7.1%, to $47.00, after the Minnesota regulator approved the rebuilding of its Line 3 oil pipeline. Imperial Oil traveled 44 cents, or 1%, to $43.70.
Health-care stocks went south, with Aphria declining 42 cents, or 3.4%, to $11.87, with Canopy Growth dropped $2.09 in price, or 5.2%, to $38.42.
In consumer staples, Metro dipped six cents to $44.69.
In consumer discretionary stocks, Canadian Tire lost 74 cents to $171.60.
On the economic front, Statistics Canada reported that real gross domestic product edged up 0.1% in April as 12 of 20 industrial sectors increased.
After a decline in January, GDP has risen every month since the beginning of 2018.
The agency’s Industrial Product Price Index increased 1.0% in May, mainly due to higher prices for energy and petroleum products.
The Raw Materials Price Index rose 3.8% in May, primarily due to higher prices for crude energy products.
Elsewhere, sources say Canada will hit back against U.S. tariffs on its steel and aluminum by offering affected companies and workers up to $800 million in aid.
As well, Bank of Canada Governor Stephen Poloz on Wednesday kept markets guessing as to whether rates would rise next week and said economic data would decide the next move. The central bank has hiked rates three times since July 2017.
ON BAYSTREET
The TSX Venture Exchange recovered 2.55 points to 739.96
Seven of the 12 TSX subgroups were higher on the day, as materials surged 1.7%, gold shone 1.2% brighter, and energy strengthened 1%
The five laggards were hampered most by health-care, sagging 2%, consumer staples, off 0.5%, and consumer discretionary, retreating 0.3%
ON WALLSTREET
Stocks rose on Friday, the last trading day of the first half of the year, but still posted weekly losses as the underlying market sentiment was soured by anxiety over global trade frictions.
The Dow Jones Industrials came off alpine highs to settle for gains of 58.34 points to close the week at 24,274.39, with Nike outperforming.
The S&P 500 gained 2.07 points to 2,718.38, as financials jumped 1%
The NASDAQ registered in the green 6.62 points to 7,510.30
Nike shares jumped more than 11% and reached an all-time high after the company reported quarterly earnings and revenue that beat expectations.
Bank shares moved higher after announcing buybacks and dividend hikes following the Federal Reserve's annual stress test. Bank of America, Citigroup hiked 1.3%, and J.P. Morgan Chase rose 0.7%. Wells Fargo surged more than 5.5%
Despite the gains, the major indexes were on track to close lower for the week as initial U.S. and Chinese tariffs are due to take effect next week. The Dow and S&P 500 have fallen at least 0.3% on the week, while the NASDAQ has slumped 1.5%
The S&P 500 is up 2.3% this year, while the Dow is down 1.1%. Meanwhile, the NASDAQ composite outperformed with gains of 9.3%. All three indexes rose on Friday, setting them up to end the first half on a high note.
President Donald Trump’s administration is set to activate tariffs on Chinese goods worth around $34 billion on July 6, which is then widely expected to trigger a tit-for-tat response from Beijing.
Axios reported on Friday that Trump has repeatedly told top White House officials that he wants the U.S. to withdraw from the World Trade Organization.
Prices for the benchmark for the 10-year U.S. Treasury lost ground, raising yields to 2.86% from Thursday’s 2.84%. Treasury prices and yields move in opposite directions.
Oil prices gained 88 cents to $74.33 U.S. a barrel.
Gold prices took on $2.90 to $1,253.90 U.S. an ounce.
