Stocks continued on the march Friday, the last session of the week and the month, as uncertain economic figures on both sides of the border led to sharp gains in the gold and materials sector.
The S&P/TSX Composite Index gained 96.73 points to greet noon at 15,603.20
The Canadian dollar sank 0.23 cents at 73.09 cents U.S.
In the gold sector, IAMGOLD leaped 21 cents, or 3.9%, to $5.65, while Barrick Gold soared 36 cents, or 1.6%, to $23.08.
Among materials stocks, First Quantum Minerals climbed 64 cents, or 5%, to $13.46, while Potash Corporation of Saskatchewan gained four cents to $23.21.
In the energy field, Suncor Energy hoisted 78 cents, or 1.9%, to $42.53, while Cenovus Energy gained 19 cents, or 1.4%, to $13.74.
On the data front, Statistics Canada reported that gross domestic product was unchanged in February following three months of growth. Gains in service-producing industries were offset by declines in goods-producing industries.
While that will mark a step down from January's strong 0.6% pace, analysts still expect the economy is on track for a solid first quarter.
The agency’s industrial product price index rose 0.8% in March, mainly due to higher prices for motorized and recreational vehicles and primary non-ferrous metal products.
The raw materials price index fell 1.6% during the same month, primarily due to lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange regained 4.11 points to 804.52
All but two of the 12 TSX subgroups were positive by lunch hour, as gold shone 3.1% brighter, materials strengthened 2.5%, and energy moved up 1.1%
The two laggards were real-estate, down 0.4%, while utilities were off 0.1%.
ON WALLSTREET
U.S. equities traded mixed on Friday as investors shrugged off weak economic data and digested key corporate earnings.
The Dow Jones Industrial Average slid 33.38 points by midday to 20.947.85, with Intel contributing the most losses.
The S&P 500 faded 4.56 points to 2,384.21, with real estate leading decliners.
The NASDAQ Composite lost 4.79 points to 6,044.15
The three major indexes were on track to post solid weekly gains as well as a strong monthly performance. Entering Friday, for example, the S&P 500 was tracking for a 1.7% weekly gain and a monthly advance of 1.1%.
General Motors reported earnings per share of $1.70 on sales of $41.2 billion U.S., versus expectations of $1.46 per share and $40.75 billion U.S.
Amazon revealed EPS of $1.48 on sales of $35.7 billion, versus expectations of $1.12 earnings per share on sales of $35.3 billion U.S.
Alphabet reported EPS of $7.73 on revenue of $24.75 billion, versus estimates of $7.39 earnings per share on sales of $24.22 billion U.S.
The U.S economy grew at a rate of 0.7% in the first quarter, the Commerce Department said. Economists expected growth of 1.2%. But one survey tracked economic growth at 0.8% and another tracked GDP at a 0.2% growth rate.
Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Thursday’s 2.3%.
Oil prices dropped six cents at $48.91 U.S. a barrel
Gold prices gained $2.70 at $1,267.20 U.S. an ounce.
