TSX Close: TSX Bounces Back to Finish in Positive Territory

By MidnightTrader.com Staff,

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The Toronto stock market ended the Friday trading session in modestly positive territory, despite being in the red for most of the day.

The S&P TSX Composite Index closed 9 points higher at 12,835, near session highs of 12,843 and rebounding from lows of 12,795.

Today's early economic news was overwhelmingly positive. Statistics Canada reported that the economy created 50,700 jobs in February, compared with the 8,000 figure expected by economists. The U.S. economy created 236,000 jobs last month, also much more than anticipated.

Still, the TSX failed to catch fire until late afternoon, led by gold and mining stocks.

The materials sector gained nearly 1%, offset by losses in utilities and financials.

Actively trades stocks included Bombardier (BBD-B.TO, +3%), IAMGOLD (IMG.TO, +5%) and Kelt Exploration (KEL.TO, +12%).

Commodity prices were mostly higher, with limited gains. April crude tacked on 39 cents, or 0.4%, to settle at $91.95 a barrel on the New York Mercantile Exchange. For the week, prices climbed 1.4%. April gold settled at $1,576.90 an ounce, up 0.1%. It was up 0.3% for the week.

U.S. stocks rose as employers added more jobs than forecast last month and the U.S. unemployment rate dropped unexpectedly.

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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
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