Advertisement

TSX Finishes Strong


Stocks in Canada’s largest centre finished Friday in the green, trying to pull themselves out of the funk they’d been in much of the week.

The TSX improved 59.92 points to close Friday at 19,835.75, for a gain on the week of 17 points, or 0.09%.

The Canadian dollar settled 0.09 cents to 73.51 cents U.S.

Health-care issues proved the main agent of this forward progress, with Tilray jumping a dime, or 3.3%, to $3.17, while Bausch Health Companies tacked on 39 cents, or 2.7%, to $11.25.

Among energy stocks, Africa Oil surged 10 cents, or 3.3%, to $3.18, while Parex Resources gathered 69 cents, or 2.8%, to $25.33.

Among tech concerns, BlackBerry burst forth $1.02, or 16.9%, to $7.05, while Converge Technology advanced a dime, or 4%, to $2.61.

Gold, as it’s done much of the week, let the side down, as NovaGold softened 14 cents, or 2.5%,, to $5.43, while Seabridge Gold faded 36 cents, or 2.3%, to $15.53.

Materials were no better off, with Endeavour Silver sinking seven cents, or 1.8%, to $3.93, while Fortuna Silver Mines retreated six cents, or 1.5%, to $4.04.

Among financials, CI Financial dropped 46 cents, or 2.7%, to $16.53, while Royal Bank withered $1.46, or 1.2%, to $121.16.


ON BAYSTREET

The TSX Venture Exchange fell back 2.9 points to 581.23. On the week, the index was down 4.9 points, or 0.83%.

All but three of the 12 TSX subgroups ended the session in the green with health-care haler by 1.6%, energy higher 1.4%, while information technology climbed 1.3%.

The three laggards were gold, dulling 0.7%, materials, settling 0.3%, and financials, tailing off 0.2%.

Read:

ON WALLSTREET

Stocks rallied Friday as traders cheered comments from Federal Reserve Chairman Jerome Powell at the annual central bank conference in Jackson Hole, Wyoming that point to stronger-than-expected economic growth.

The Dow Jones Industrials stormed higher 247.68 points to finish the day and the week at 34,347.10. The 30-stock index fell on the week, though, 0.4%.

The S&P 500 index jumped 29.38 points to 4,405.69, for progress on the week of 0.8%.

The NASDAQ index popped 126.67 points to 13,590.65, or 2.26% over the last five sessions.

The S&P 500 energy, consumer discretionary and industrial sectors all rose at least 1% on Friday. Petroleum company Valero Energy and toymaker Hasbro were among the day’s biggest gainers, advancing 3.9% and 6.5%, respectively.

Optimism was fueled, in part, by Powell’s confidence in continued economic growth in the U.S., citing “especially robust” consumer spending and early signs of a recovery in the housing market. He reiterated the central bank’s commitment to pull inflation back down to its 2% goal.

Prices for the 10-year Treasury gained a bit, lowering yields to 4.23% from Thursday’s 4.24%. Treasury prices and yields move in opposite directions.

Oil prices picked up one dollar to $80.05 U.S. a barrel.

Gold prices sagged $5.70 to $1,941.40 U.S. an ounce.