Canada's main stock index rose on Friday, helped by gains in the energy sector, after ending the previous session with its biggest percentage rise in nearly three years.
The S&P/TSX Composite Index gained 56.79 points, to close the day and a short Christmas week at 14,222.
The Canadian dollar was down 0.19 cents at 73.22 U.S.
U.S. cannabis retailer Green Growth Brands said on Thursday it would make a hostile all-stock bid for Aphria in a deal valuing it at $2.8 billion, which Aphria said on Friday undervalued the company.
Aphria shares galloped 97 cents, or 12.8%, to $8.54, Bausch Health Companies added 33 cents, or 1.3%, to $25.60.
Eight Capital cut the target price on Husky Energy to $20.00 from $22.00. Shares in Husky dropped 11 cents to $13.99,
Elsewhere in energy, Canadian Natural Resources gained 56 cents, or 1.7%, to $32.83, while Imperial Oil acquired 20 cents to $34.94.
Gold stocks tailed off, as Barrick Gold jettisoned 71 cents, or 3.8%, to $17.97, while Kinross Gold fell a penny to $4.38.
First Majestic Silver Corp fell 24 cents, or 3%, the most on the TSX, to $7.86, after announcing an equity offering. Elsewhere in materials, Agnico Eagle Mines eased 56 cents, or 1%, to $55.10
In consumer discretionary stocks, Magna International lost $1.23, or 1.9%, to $62.15, while Gildan Activewear lost 41 cents, or 1%, to $41.25.
ON BAYSTREET
The TSX Venture Exchange moved higher 14.81 points, or 2.8%, to 552.09
All but three of the 12 TSX subgroups stayed higher by the closing bell, as health-care jumped 2.7%, energy gushed 1.7%, while industrials were better by 1%.
The three laggards were gold, down 0.9%, while materials and consumer discretionary stocks were each off 0.7%.
ON WALLSTREET
Stocks gyrated in yet another volatile session on Friday as Wall Street concluded a roller-coaster week.
The Dow Jones Industrials sank 76.75 points to close Friday and the week at 23,062.07
The S&P 500 faded 3.11 points to 2,485.72,
The NASDAQ hung onto gains of 5.03 points to 6,584.52, as advances in Apple, Amazon and Netflix lifted the tech-heavy index.
On Thursday, the Dow closed 260 points higher after falling as much as 611 points. That reversal marked the 30-stock index’s biggest intraday turnaround in eight years. The S&P 500 also posted solid gains after declining more than 2% while the NASDAQ erased a 3% loss.
Thursday’s gains added to Wednesday’s historic rally in which the major indexes had their best day in nearly 10 years.
For the week, the major indexes are all up at least 3.5% and were all on pace to post their biggest weekly gain since late November.
Stocks are still, however, on track for their worst December performance since 1931. The S&P 500 was down 9.8% for the month through Thursday’s close while the Dow has lost 9.4%.
The recent moves in stocks also put the Dow and S&P 500 on track for their first yearly loss since 2015. The NASDAQ, meanwhile, was on pace to log its first yearly decline since 2011.
Prices for the benchmark for the 10-year U.S. Treasury shot higher, lowering yields to 2.72% from Thursday’s 2.79%. Treasury prices and yields move in opposite directions.
Oil prices gained 54 cents to $45.15 U.S. a barrel.
Gold prices were up $1.40 at $1,282.50 U.S. an ounce.
