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Canada’s benchmark index soared on Friday, May 7, guided by base metal stocks after gold and silver prices increased. Meanwhile, energy stocks witnessed moderate gains, and all other indices finished the last trading session of the week in green.
The S&P/TSX Composite rose 181.76 points or 0.942 per cent to 19,472.74 points.
The S&P/TSX Venture Composite Index also improved by 11.21 points or 1.18 per cent to 954.98 on Friday.
The TSX Health Care Index was the top price performer and closed its last trading session with a rise of more than 4 per cent.
Gold’s gaining spree continued, and it surpassed its key resistance level of US$ 1,800 on May 7, propelled by a weaker dollar. The rise supported the basic materials sector, which includes yellow and base metals producers, up nearly 3 per cent. Nevada Copper Corp. (TSX:NCU) and Barrick Gold Corporation jumped 9.25 per cent and 1.32 per cent, respectively.
The energy sector fueled up 1.643 per cent as the crude oil WTI Futures prices rebounded above US$ 65 a barrel later Friday. Stocks of Suncor Energy (TSX:SU) climbed by 2.50 per cent to C$ 28.66 apiece and made it to top price performers on the Toronto Stock Exchange.
While on the macroeconomic front, more Canadians lost their jobs than estimated in April due to renewed restrictions orders to contain a mutant-led third wave of coronavirus that hit employers, as per Statistics Canada data.
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Top Gainers & Losers
Forza Petroleum Limited (TSX:FROZ) was up 25 per cent while Tetra Bio-Pharma Inc. (TSX:TBP) was up 22.66 per cent. On the other side, Centerra Gold Inc. (TSX:CG) was the biggest loser, losing almost 30 per cent, followed by Aurinia Pharmaceuticals Inc. (TSX:AUP) down 18 per cent and Euromax Resources Ltd. (TSX:EOX) down 14.28 per cent.
