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Stocks Hold to Higher Numbers

Stocks in Canada’s biggest market rallied midday Friday, bolstered by energy and mining stocks, but ...

Stocks in Canada’s biggest market rallied midday Friday, bolstered by energy and mining stocks, but BlackBerry shares suffered sharp losses after first quarter sales missed expectations.

The S&P/TSX Composite Index grew 90.11 points to greet noon at 15,310.01

The Canadian dollar faded 0.19 cents to 75.37 cents U.S.

BlackBerry reported an unexpected 4.7% drop in revenue from its software and services business, whose success is at the heart of Chief Executive John Chen's turnaround plan for the company. Shares tumbled 11.8% to $12.93, on track for its biggest one-day decline in about two and a half years.

Suncor Energy advanced 1.4% to $38.63, while Canadian Natural Resources rose 1.1% to $38.07 as oil prices touched session highs on the back of a softer U.S. dollar.

The materials group, home to miners and fertilizer companies, added strength, with Barrick Gold Corp climbing 2.4% to $21.80.

Bullion prices hit a one-week high, as the weaker greenback and global geopolitical uncertainties boosted the precious metal.

The financials group, which accounts for about a third of the index's weight, enjoyed gains, with bank stocks seeing modest advances.

Home Capital Group Inc extended its previous session's gains, climbing 3.4% to $19.64, following news that Warren Buffett's Berkshire Hathaway made a commitment to provide financing for the alternative lender.

Canadian National Railway was one of the most influential movers on the index, climbing 1.3% to $107.03

On the economic slate, Statistics Canada reported that May’s consumer price index tallied 1.3% on a year-over-year basis in May, following a 1.6% increase in April.

The agency adds that, on a seasonally-adjusted monthly basis, retail inflation was down 0.2% in May, after increasing 0.4% in April.

ON BAYSTREET

The TSX Venture Exchange held onto gains of 0.92 points to 771.99

All but three of the 12 TSX subgroups gained ground, as gold soared 1.5%, energy popped 1.3%, and materials raised themselves 1.2%.

The three laggards were consumer staples, slipping 0.6%, information technology, deferring 0.5%, and health-care, sicker by 0.3%.

ON WALLSTREET

U.S. equities traded fluctuated between gains and losses on Friday as energy stocks tried to stem this week's selloff.

The Dow Jones Industrials recovered 13.49 points to break for lunch at 21,410.78, with Boeing contributing the most gains.

The S&P 500 moved higher 4.82 points to 2,439.32, as energy rose 0.7 percent to lead advancers. Still, energy stocks came into Friday's session riding a four-day losing streak as crude prices fell on oversupply concerns.

The NASDAQ picked up 17.83 points to 6,254.42, and was on track to rise more than 1% for the week after a sharp rally in health-care.

Health-care stocks pulled back about 0.2% Friday, but the sector was still on track to post a weekly gain of more than 3%.

Equities have managed to hold their ground this week, with the S&P and the Dow also on track for slight weekly gains.

The consumer price index fell 0.1% in May, raising questions about whether the Fed will be able to raise rates once more this year. The next rate hike isn't fully priced in until March 2018

In other economic news, new home sales rose 2.9% in May, below the expected increase of 3.7%.

Elsewhere, St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester are both due to speak later on Friday.

Prices for the benchmark 10-year Treasury note gained, lowering yields back to Thursday’s 2.15%. Treasury prices and yields move in opposite directions.

Oil prices gathered 37 cents to $43.11 U.S. a barrel

Gold prices gained $7.50 to $1,256.90 U.S. an ounce.