© Reuters. FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch/File Photo
By Fergal Smith
(Reuters) -Canada’s main stock index edged higher on Friday to notch its fifth straight weekly gain, led by gains for the materials group as prices climbed to a near one-year high.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 19.3 points, or 0.1%, at 21,849.15, trading near its highest closing level since April 2022.
For the week, the index was up 0.5%. The weekly winning streak was the longest in 11 months.
“The big thing we’re seeing is a nice rotation into some of the cyclicals,” said Greg Taylor, a portfolio manager at Purpose Investments.
“That had been something that held back the TSX for the last six months … but this week has been pretty positive with oil going over 80 bucks and copper breaking out over 4 (dollars).”
Copper…
