TSX Snaps 4-day Losing Streak, Settles Notably Higher

(RTTNews) - The Canadian stock market ended on a firm note on Friday, snapping a four-day losing streak, thanks to strong gains in energy, materials and cannabis shares.

A few stocks from industrials, information technology and financial sections too posted solid gains.

Upbeat U.S. jobs data aided sentiment. However, a disappointing report on U.S. service sector growth capped the market's upside.

The benchmark S&P/TSX Composite Index ended up 83.55 points, or 0.51%, at 16,494.43, about a couple of points off the day's high of 16,496.63.

On Thursday, the index ended down 91.87 points, or 0.56%, at 16,410.88. The index lost 0.72% in the week.

Among energy stocks, Suncor Energy (SU.TO) gained about 2%, Encana Corporation (ECA.TO) moved up 3.3% and Parex Resources (PXT.TO) advanced by 2.15%.

Baytex Energy Corp. (BTE.TO) soared nearly 13% on strong results. Crescent Point Energy (CPG.TO) gained about 4.3%, Whitecap Resources (WCP.TO) climbed 2.2% and ARC Resources (ARX.TO) gained 1.25%.

In the materials space, Nutrien (NTR.TO) gained 2.15%, Teck Resources (TECK.B.TO) jumped 3.6%, Agnico Eagle Mines (AEM.TO) advanced 1.7%, First Quantum Minerals (FM.TO) gained 3.2% and Methanex Corporation (MX.TO) ended 3.1% up.

Eldorado Gold Corporation (ELD.TO) shares plunged nearly 18% after the company reported adjusted net loss of $17.9 million ($0.11 per share) for the first quarter of 2019, compared to adjusted net earnings of $14.0 million ($0.09 per share) in the year-ago quarter.

Industrials stock Bombardier Inc. (BBD.B.TO) gained 3.2%, bouncing back after suffering a sharp setback in the previous session. Among financials, Manulife Financial Corporation (MFC.TO) gained 1.3%.

From the healthcare section, Hexo Corp. (HEXO.TO) gained 3.3% and CannTrust Holdings Inc. (TRST.TO) jumped 7.1%. Aphria Inc. (APHA.TO) declined nearly 3%.

Among the gainers in the information technology space, Shopify Inc. (SHOP.TO) climbed up 3.2%, BlackBerry (BB.TO) added 1.6%, Open Text Corporation (OTEX.TO) gained 1.1%, Descartes Systems Group (DSG.TO) and Sierra Wireless (SW.TO) both gained 1.3% and Celestica Inc. (CLS.TO) advanced by 1.8%.

U.S. stocks ended moderately higher on upbeat jobs data. The Dow advanced 0.8% and the S&P 500 gained 1%, while the Nasdaq surged up 1.6%.

Major European markets closed higher, with traders reacting positively to earnings updates from banks and U.S. jobs report.

Asian stocks turned in a mixed performance on Friday.

In commodities, West Texas Intermediate Crude oil futures for June ended up $0.13, at $61.94 a barrel.

Gold futures for June ended up $9.30, or 0.7%, at $1,281.30 an ounce.

Silver futures for July ended up $0.361, at $14.978 an ounce, while Copper futures for July settled at $2.8910 per pound, gaining $0.0395 for the session.