Equities in Canada’s largest market powered to heights they’d never known before Friday, largely on the strength of industrial and resource issues.
The TSX gained 53.6 points to close Friday to 25,444.28, pointing the index upward 553 points, or 2.2%, on the week.
The Canadian dollar was up 0.02 at 71.54 cents U.S.
In corporate news, convenience stores operator Alimentation Couche-Tard is not considering a hostile takeover bid for Japanese retail company Seven & i, Nikkei business daily reported. Couche-Tard shares ditched four cents to $78.65.
In industrials, ATS Corp's shares gained $2.95, or 7.2%, to $43.75.
Elsewhere in industrial issues, Finning International moved up $1.05, or 2.9%, to $37.85.
Gold stocks also did well, and one of the main standouts was Aya Gold, which jumped 64 cents, or 5%, to$13.40, while Osisko Gold Royalties took on 41 cents, or 1.5%, to $28.13.
In financials, Brookfield Corporation advanced $1.22, or 1.5%, to $81.60, while Laurentian Bank popped 37 cents, or 1.3%, to $28.87.
Health-care issues, though, weighed on the index, with Bausch Health Companies doffing 22 cents, or 1.9%, to $11.23, while Sienna Senior Living lost 15 cents to $16.88.
Tech issues were missing some of their mojo, as Celestica fell $4.02, or 3.1%, to $123.83, while Quarterhill faltered three cents, or 1.9%, to $1.52.
In communications, Quebecor lost 25 cents to $31.96, while Telus Corp. dipped 14 cents to $21.24.
In news economic, Statistics Canada reported its new housing price index fell 0.4% in October, the largest monthly decline since April 2009.
However, the picture was mixed across the country, as prices were down in 9 out of 27 census metropolitan areas (CMAs) surveyed, but unchanged in 11 CMAs and up in the remaining seven.
Retail sales increased 0.4% to $66.9 billion in September. Sales were up in six of nine subsectors and were led by increases at food and beverage retailers.
ON BAYSTREET
The TSX Venture Exchange zoomed 7.06 points, or 1.2%, to 606.17. The index was ahead on the week by nearly 15 points, or more than 2.5%.
All but three of the 12 subgroups were higher, led by industrials, better by 1%, while gold captured 0.7%, and financials gained 0.3%.
The three laggards proved to be health-care ,down 0.6%, information technology, off 0.3%, and communications, eking back 0.04%.
ON WALLSTREET
The Dow Jones Industrial Average advanced on Friday as the major U.S. averages headed for weekly gains.
The 30-stock index rocketed 426.16 points, or 1%, to 44,296.51.
The S&P 500 index gathered 20.63 points to 5,969.74.
The NASDAQ Composite recovered 31.23 points to 19,003.65.
All three major averages were on track to end the week higher by more than 1%, marking a turn from last week, when Wall Street’s postelection rally stalled.
Shares of Gap jumped more than 3% after the company beat earnings estimates and hiked its full-year sales guidance.
Elsewhere, investors kept an eye on bitcoin as it neared the long-awaited milestone of $100,000.
Prices for the 10-year Treasury fell, raising yields back to Thursday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.05 to $71.15 U.S. a barrel.
Prices for gold hiked $32.70 an ounce to $2,707.60U.S.
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