Soft landing hopes help TSX recoup much of its weekly decline

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By Fergal Smith

(Reuters) -Canada’s main stock index rose on Friday, clawing back much of its weekly decline, as rising hopes of a soft economic landing bolstered the shares of financial and real estate companies.

The Toronto Stock Exchange’s S&P/TSX composite index ended up 149.79 points, or 0.7%, at 20,906.52. For the week, the index was down 0.4%, after posting last Friday its highest weekly closing level in 21 months.

Wall Street also rallied, with the S&P 500 notching a record closing high.

“There is more excitement about a soft landing,” said Angelo Kourkafas, a senior investment strategist at Edward Jones. “Economic data…