Markets in Toronto managed to move into positive territory for both Friday and the week in full, powered by resource concerns.
The TSX Composite progressed 71.82 points to close Friday at 20.990.22. On the week, the index gained 52.6 points, or 0.25%.
The Canadian dollar dips 0.1 cents to 74.59 cents U.S.
Among gold issues, Wesdome gained 35 cents, or 4.9%, to $7.45, while Iamgold screamed higher 34 cents, or 10.8%, to $3.50.
In materials, First Majestic added 39 cents, or 5.5%, to $7.51, while Orla Mining took on 26 cents, or 6.2%, to $4.46.
Techs also performed well, most notably, Kinaxis, ahead $4.45, or 3.1%, to $148.40, while Tecsys Inc. was better 91 cents, or 3.1%, to $30.54.
Consumer staples went the other way, with Alimentation Couche-Tard pointed downward $1.51, or 2%, to $78.20, while Metro Inc. lost 52 cents to $68.10.
In consumer discretionary stocks, BRP Inc. shed $3.79, or 4.1%, to $88.46, while Magna International dipped $1.65, or 2.2%, to $74.53.
Financials were also bruised, with Nuvei Corp. sinking 84 cents, or 2.5%, to $32.17, while Canadian Western Bank handed over 59 cents, or 1.9%, $29.86.
ON BAYSTREET
The TSX Venture Exchange rebounded 5.89 points, or 1.1%, to close Friday at 556.18. On the week, the index marched ahead 4.8 points, or 0.9%.
Seven of the 12 subgroups were positive, led by gold, soaring 2.4%, materials, ahead 1.5%, and information technology, better by 0.8%.
The four laggards were weighed most by consumer staples, down 0.6%, consumer discretionary stocks, trailing 0.5%, and financials off 0.4%.
Health-care issues were unchanged Friday.
ON WALLSTREET
The Dow Jones Industrial Average slipped Friday as traders parsed through the first batch of fourth-quarter earnings and digested the second in a pair of closely watched inflation reports this week.
The blue-chip index plunged 118.04 points at 37,592.98.
The S&P 500 eked out a gain of 3.59 points to 4,783.83.
The NASDAQ edged higher 2.58 points to 14,972.76.
On the week, the major averages were headed for modest gains. The Dow was up about 0.3%, while the S&P 500 was tracking for a 1.8% advance. The NASDAQ proved the outperformer, up 3% through Thursday’s close.
Monday, markets in the U.S. will be closed for Martin Luther King Day.
UnitedHealth dragged the Dow lower, with the stock losing 3.4% despite the company announcing higher-than-expected earnings and revenue for the fourth quarter. Delta Air Lines also fell nearly 9% even after exceeding quarterly earnings expectations.
A slew of big banks also reported earnings Friday. Bank of America lost 1% after posting declining fourth-quarter profit, while Wells Fargo shares shed 3.3% despite posting a higher profit for the quarterly period. Shares of JPMorgan Chase lost 0.7% even after the bank said its earnings slipped by 15% from a year earlier.
Citigroup, meanwhile, added 1% after announcing the company is cutting 10% of its workforce. Earlier Friday, the bank posted a $1.8 billion quarterly loss after incurring several large charges.
Investors got some encouraging news on inflation Friday with wholesale prices unexpectedly declining by 0.1% in December. The data
follows the more widely followed consumer prices data Thursday, which came in modestly hotter than economists had forecasted, with prices up 0.3% on the month and 3.4% from a year ago.
Prices for the 10-year Treasury jumped, lowering yields to 3.94% from Thursday’s 3.98%. Treasury prices and yields move in opposite directions.
Oil prices added 75 cents to $72.77 U.S. a barrel.
Gold prices hiked $32.00 to $2,051.200.