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Stronger Gains for TSX

Canada's main stock index rose on Friday, boosted by the heavyweight energy sector as shares of oil ...

Canada's main stock index rose on Friday, boosted by the heavyweight energy sector as shares of oil companies were lifted by the higher price of crude.

The S&P/TSX Composite Index climbed 114.89 points to move into noon hour at 15,785.51

The Canadian dollar dropped 0.2 cents at 76.41 cents U.S.

The largest percentage gainer on the TSX was Ivanhoe Mines, which rose 3.9% to $2.97, while the largest decliner was Novagold down 1.1% to $5.41

Among the most active Canadian stocks by volume were Enbridge, up 2.4% at $42.03, Manulife Financial, up 1.3% at $24.69 and Bombardier, unchanged at $3.72.

Suncor Energy added 1% to $42.69.

The U.S. Justice Department says the chief executive of a Vancouver-based company appeared in a Washington state court on Thursday in the first U.S. case in which a company has been targeted for providing criminal drug cartels with the technology to evade law enforcement

Economically speaking, Statistics Canada reported that foreign investors resumed their investment in Canadian securities by adding $5.7 billion to their holdings in January. Meanwhile, Canadian investment in foreign securities totaled $13.3 billion, a second consecutive month of strong acquisitions.

Elsewhere, manufacturing sales decreased 1.0% to $54.9 billion in January. Declines in the motor vehicles, the aerospace product and parts, as well as the primary metal industries were responsible for the overall drop.

ON BAYSTREET

The TSX Venture Exchange nicked up 0.26 points to 828.34

All but one of the 12 TSX subgroups moved higher, led by financials, up 0.6%, while health-care and industrials each advanced 0.5%.

Only real-estate was negative, and only 0.02%.

ON WALLSTREET

Stocks climbed on Friday despite continuing turmoil within the Trump administration.

The Dow Jones Industrial Average gained 85.01 points to 24,958.67, with American Express and Walmart as the best-performing stocks in the index.

The S&P 500 stayed buoyant 6.57 points to 2,753.90, with financials as the best-performing sector.

The NASDAQ composite Index eased 1.56 points to 7,480.18

In corporate news, Adobe Systems reported better-than-expected quarterly earnings, sending its stock up more than 3%.

The Washington Post reported Thursday that President Donald Trump decided to remove national security advisor H.R. McMaster from the U.S. administration. The White House has, however, gone onto deny that any changes are set to emerge within the National Security Council.

CBS News reported on Friday that White House chief of staff John Kelly could depart the administration as early as today.

The news comes a few days after Trump relieved Rex Tillerson of his duties as secretary of state. It also comes more than a week after Gary Cohn resigned as the National Economic Council's director.

In economic news, the Commerce Department said housing starts declined 7% in February, a bigger-than-expected fall. Building permits, meanwhile, fell 7.7% last month.

Elsewhere, consumer sentiment rose to a level not seen since 2004 in March, according to a preliminary reading from the University of Michigan. Meanwhile, the U.S. Labor Department said job openings increased to 6.3 million in January, a record.

Prices for the benchmark 10-year Treasury note fell back, raising yields to 2.85% from Thursday’s 2.82%. Treasury prices and yields move in opposite directions.

Oil prices recovered $1.04 a barrel to $62.23 U.S.

Gold prices loosed $4.60 to $1,313.20 U.S. an ounce.