January 26, 2018 / 12:36 PM / 5 months ago

TSX closes higher, boosted by Bombardier trade case win

TORONTO (Reuters) - Canada’s main stock index rose on Friday, led by shares in Bombardier Inc (BBDb.TO), which closed up more than 15 percent after it won an unexpected trade victory against U.S. planemaker Boeing Co (BA.N).

Businessmen pass the Toronto Stock Exchange sing in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed up 35.21 points, or 0.22 percent, to 16,239.22. For the week, the index fell 0.7 percent.

Bombardier was the biggest riser on the index, gaining 15.3 percent to C$3.54.

Just one of the index’s 10 main groups ended lower.

The financials group, which accounts for more than one-third of the TSX’s weight, slipped 0.1 percent. Shares in Toronto-Dominion Bank (TD.TO) fell 0.5 percent to C$74.05.

The information technology group rose 1.6 percent and the industrials group rose 0.8 percent.

Gold mining stocks got a boost from higher prices for the precious metal. Gold climbed back toward the previous day’s 17-month peak as a report of slow economic growth pushed the U.S. dollar lower. [GOL/]

Yamana Gold Inc (YRI.TO) rose 2.3 percent to C$4.51 and Alamos Gold Inc (AGI.TO) gained 3 percent to C$7.86.

The energy group added 0.3 percent as oil prices rose.

U.S. crude CLc1 prices settled nearly 1.0 percent higher at $66.14 a barrel.

Shares of Canopy Growth Corp (WEED.TO) rose 10.8 percent to C$34.48 after AltaCorp Capital upgraded the stock to “speculative buy”. Rival Aphria Inc (APH.TO) rose 5.5 percent to C$20.16. The overall healthcare group advanced 3.8 percent.

The TSX posted 13 new 52-week highs and 3 new lows.

Canada’s annual inflation rate dipped as expected in December as gasoline prices cooled, but analysts said the Bank of Canada was likely to stay on a policy tightening path with inflation still near the central bank’s 2 percent target.

Reporting by Matt Scuffham; Editing by Meredith Mazzilli

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