Canada Stocks Close Higher; Strong Employment Number Drive Gains; Air Canada Most Active

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Canadian stocks closed higher on Friday; reversing most of Thursday's losses. Most sectors where higher, led by Energy and Financial, but Utilities capped gains.

Stocks rose after the US Department of Labor reported a stronger than expected non-farm payroll report. According to the BLS, payrolls climbed 204,000 compared to the 120,000 expected by economists. Revisions to September and October were positive, while the unemployment rate ticked higher to 7.3% from 7.2%. Canada payrolls also showed gains climbing to 13,200 jobs compared to expectations of 11,000.

Air Canada (AC-B.TO) was the most active stock on the TSX climbing 7.16% with 6.6 million shares changing hands. The company reported adjusted net income of $365 million or $1.29 per diluted share in the third quarter of 2013 compared to adjusted net income of $229 million or $0.82 per diluted share in the third quarter of 2012, an increase of 59.4%. It easily beat forecasts for $1.03 per share.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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As of 11/26/2014, 04:15 PM

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