TORONTO (Reuters) - Canada’s main stock index rose on Friday as higher commodity prices helped resource shares, but losses from earlier in the week meant the index ended the week lower than it started it for the first time in more than two months.
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended up 63.20 points, or 0.40 percent, at 15,998.57. Seven of its 10 main sectors closed in positive territory.
It lost 0.25 percent over the course of the week. Before this week, the TSX had advanced for nine consecutive weeks, a feat not seen since late 1996.
Gains for the index came as data showing a drop in Canada’s annual inflation rate gave the Bank of Canada room to wait until next year to raise interest rates again.
The materials group, which includes precious and base metals miners and fertilizer companies, added 1.1 percent, while the energy group gained 0.5 percent.
Oil rebounded more than 2 percent after falling for five straight sessions as a major U.S. crude pipeline was shut and traders anticipated an OPEC deal to extend curbs on production. [O/R]
Spot gold XAU= rose 1.2 percent to $1,294.23 an ounce and copper prices CMCU3 advanced 0.9 percent to $6,800 a tonne. [MET/L]
Financial shares, which account for 35 percent of the index’s weight, firmed 0.4 percent.
Reporting by Fergal Smith; Editing by Bernadette Baum and James Dalgleish