Market has remarkable Friday
The Canadian Press - Nov 20, 2020 - Business Buzz

Photo: Contributed

TORONTO — Canada’s main stock index moved to within about five percentage points of its record high Friday on a broad-based rally involving technologies along with cyclical sectors like materials and energy.

The S&P/TSX composite index closed up 109.29 points to 17.019.10. The intraday high of 17,048.87 was less than 1,000 points from the peak reached in February.

Overall, the Toronto market closed up 2.1% over the past five days to reach its third straight positive week. It has climbed 9.3% so far in November.

“It’s nice to see the Canadian market firing on more than one cylinder,” said Les Stelmach, portfolio manager at Franklin Templeton Canada.

Technology and defensive sectors such as utilities rallied while cyclical stocks in energy and industrials did well, excluding the railways.

In New York, the Dow Jones industrial average was down 219.75 points at 29,263.48. The S&P 500 index was down 24.33 points at 3,557.54, while the Nasdaq composite was down 49.74 points at 11,854.97.

The December gold contract was up US$10.90 at US$1,872.40 an ounce and the December copper contract was up 8.9 cents at US$3.29 a pound.

The Canadian dollar traded for 76.51 cents US compared with 76.44 cents US on Thursday.

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