Stocks in Toronto rallied Friday, though it proved not to be enough to salvage the week, despite strong performances in real-estate and tech sectors.
The TSX Composite climbed 145.79 points to end Friday at 20,906.52. On the week, though, the index was down 83.7 points, or 0.4%.
The Canadian dollar gained 0.31 cents to 74.45 cents U.S.
Real-estate led the parade of winners, as Tricon triumphed $3.21, or 27.6%, to $14.86, while units of InterRent REIT grabbed 46 cents, or 3.6%,
In tech stocks, Celestica jumped $3.12, or 8.1%, to $41.69, while Copperleaf Technologies headed higher 32 cents, or 5.2%, to $6.45.
Financials also came away winners, as Trisura Group collected $1.68, or 5.1%, to $34.98, while goeasy Ltd. shares $4.64, or 2.9%, to $166.90.
Gold weighed things down, though, with Alamos Gold sliding 31 cents, or 1.9%, to $16.33, while New Gold docked two cents, or 1.2%, to $1.72.
In energy stocks, Birchcliff took a pasting, 29 cents, or 5.6%, to $4.93, while Kelt Exploration shed 18 cents, or 3.3%, to $5.30.
In consumer staples, Loblaw Companies tumbled $1.43, or 1%, to $133.59, while Empire Company skidded 21 cents to $35.19.
Retail trade figures decreased 0.2% to $66.6 billion in November. Sales were down in four of nine subsectors and were led by decreases at food and beverage retailers.
ON BAYSTREET
The TSX Venture Exchange recovered 1.15 points Friday to 552.33. Over the last five sessions, the index lost 3.9 points, or 0.7%.
Eight of the 12 subgroups stayed in the green as the closing bell sounded, with real-estate climbing 2.5%, information technology up 1.5%, and financials richer 1.3%.
The four laggards were weighed most by gold, down 0.3%, energy, sliding 0.2%, and consumer staples, off 0.1%.
ON WALLSTREET
The S&P 500 closed at an all-time high on Friday as investors returned to buying equities in force in recent days following a short-lived market stumble to start the new year.
The Dow Jones Industrials popped 395.19 points, or 1.1%, at 37,836.80.
The S&P 500 index charged 58.87 points, or 1.2%, to 4,839.81. The broad market index surpassed its January 2022 intraday high of 4,818.62 and its closing record of 4,796.56.
The NASDAQ rose 255.32 points, or 1.7%, to close Friday at 15,310.97.
All three major averages are now in positive territory for 2024, with the 30-stock Dow going green during Friday’s rally.
The tech sector gained 2.4% on Friday and more than 4% during the trading week, making it the S&P 500’s best-performing sector week to date.
Insurance company Travelers rose 6.7% after posting an earnings beat. Schlumberger gained 2.2% after beating on top and bottom lines, and Ally Financial surged over 10% after reporting strong quarterly results and a sale of a business unit to Synchrony Financial.
Fresh consumer data on Friday indicated that consumers are becoming more confident on the economy and inflation. The University of Michigan’s Survey of Consumers showed a 21.4% year-over-year jump to reach its highest level since July 2021. Meanwhile, home sales declined 1% month-over-month in December 2023, marking 2023 as the worst year for full-year sales since 1995, according to the National Association of Realtors.
Prices for the 10-year Treasury gained ground, weighing on yields to 4.13% from Thursday’s 4.14%. Treasury prices and yields move in opposite directions.
Oil prices dipped 27 cents to $73.81 U.S. a barrel.
Gold prices gained $9.60 to $2,031.20.