Equities in Canada’s largest market said farewell to a very lucrative week Friday, with triple-digit gains carried by health-care and telecom stocks.
The TSX hurtled higher 110.64 points to close the day and week at 20,547.51. Over the last five sessions, the index gained 285 points, or 1.4%.
The Canadian dollar forfeited 0.23 cents to 75.67 cents U.S.
Health-care stocks led the charge Friday, Tilray soaring six cents, or 2.8%, to $2.22, while Chartwell Retirement Residences took on 19 cents, or 2%, to $9.95.
In communications, TELUS triumphed 45 cents, or 1.9%, to $24.78, while Quebecor acquired 40 cents, or 1.3%, to $32.19.
In energy, Imperial Oil popped $1.57, or 2.4%, to $66.82, while Crescent Point Energy added 22 cents, or 1.2%, to $10.21.
Techs sagged, however, with Alithya down 12 cents, or 4.6%, to $2.49, while CGI Group stumbled $4.70, or 3.4%, to $134.75.
On the economic beat, Statistics Canada reported retail sales increased 0.2% to $66.0 billion in May. Sales increased in five of nine subsectors and were led by increases at motor vehicle and parts dealers and food and beverage retailers.
The national index increased 0.1% month over month in June, driven by price growth in two of Canada’s larger housing markets, Vancouver and Calgary.
ON BAYSTREET
The TSX Venture Exchange dipped 0.97 points to 616.66, for a loss on the week of 11.8 points, or 1.87%.
All but one of the 12 TSX subgroups were in the green by the closing bell, with health-care soaring 1.3%, communications ahead 1%, and energy 0.9% more energetic.
Only information technology stocks missed the party, declining 0.3%>
ON WALLSTREET
Stocks were mixed Friday as traders assessed the latest corporate earnings results, and the Dow Jones Industrial Average stretched its winning streak to 10 sessions.
The 30-stock index came off its highs of the day, but surpassed Thursday’s close by 2.51 points to end Friday and the week at 35,227.69.
The S&P 500 forged ahead 1.47 points to 4,536.34.
The NASDAQ index sank 30.5 points to 14,032.81.
A large volume of index and stock options also expired Friday.
Traders were still eyeing more corporate earnings after a busy week of quarterly results. Transportation giant CSX fell 3.5% on the back of underwhelming results. American Express, meanwhile, fell 3.4%.
Corporate earnings have been mixed thus far. Seventy-five percent of S&P 500 companies that have already reported exceeding analysts’ expectations, according to FactSet data. However, that beat rate is below a three-year average of 80%, according to The Earnings Scout.
Trading is likely to be volatile Friday as portfolio managers recalibrate their funds to account for an unusual NASDAQ rebalance taking effect Monday. A large volume of index and stock options also expired Friday.
Prices for the 10-year Treasury gained slightly, lowering yields to 3.84% from Thursday’s 3.85%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.25 to $76.90 U.S. a barrel.
Gold prices dropped $6.50 to $1,964.40 U.S. an ounce.