Canada’s resource-heavy index rose on Friday, as a gain in mining stocks, on higher copper prices, helped limit the impact from U.S. producer prices data that came in hotter than expected, pushing back speculations of early interest rate cuts.
The TSX Composite rose 93.85 points by noon Friday at 21,316.54.
The Canadian dollar moved backwards 0.08 cents at 74.16 cents U.S.
Among other stocks, shares of asset manager IGM Financial fell $1.66, or 4.6%, to $34.75, after the company reported its fourth-quarter results, while largest carrier Air Canada plummeted $1.30, or 6.8%, to $17.96, after it reported a wider-than-expected adjusted quarterly loss.
Canadian markets will be closed on Monday on account of Family Day.
On the economic front, Statistics Canada says Canadian investors acquired an unprecedented $29.4 billion of foreign securities…
