TSX rises over 1 pct, led by bank and energy shares
- Author: Anthony Vega May 06, 2017,
May 06, 2017, 7:12
The TSX looked set to open lower on Friday after Canada added more jobs, pushing the unemployment down, although lower oil prices could hurt energy stocks. Meanwhile, silver miners were led by First Majestic Silver Corp and Silver Wheaton Corp finished the week with respectively ascents of 3.86 percent and 2.27 percent.
Home Capital Group Inc (Toronto:HCG.TO - News) fell 12.1 percent to C$6.01 as a regulatory hearing to investigate claims the mortgage lender and three of its long-time executives had misled investors was adjourned until next month.
The price of oil regained some of its worth after the commodity's value hit its lowest level since late November on Thursday when it reached US$45.52 per barrel.
The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 185.34 points, or 1.2 percent, at 15,582.04.
The technology giant's shares fell 2.2 per cent to a six-month low of $154.96 after Warren Buffett said he sold almost a third of his stake in the company.
All of the index's 10 main groups ended higher.
The price of gold added $16.85 to $1,239.59. Rounding out the list was top-ranked Royal Bank of Canada and No. 4 Bank of Montreal with advancements of 1.07 percent and 0.95 percent. The financial services company had reported earnings on Thursday.
"This lacklustre behaviour is occurring when the market is a stone's throw away from all-time highs, so it is either going to break out and make new highs or will go into a short corrective phase". The S&P 500 index shed 9.56 points to 2,381.61, and the Nasdaq composite index dropped 39.62 points to 6,055.74.
There hasn't been much volatility in USA markets as the current earnings season and recent economic data has lacked surprises, Pashootan said. The June natural gas contract rose eight cents to about US$3.27 per mmBTU and the July copper contract gained 1.7 cents to roughly US$2.53 a pound.
The Canadian dollar lost $0.0006, remaining at 73 cents.