Canadian shares rose on Friday, aided by gains in financial shares, which account for approximately 36% of the main measure.
The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.6% to 13,916.71 at 12:01 p.m. in Toronto. Seven out of the 10 main share groups were in positive territory.
The financial group rose 0.6%. Royal Bank of Canada (TSE:RY), which has the heaviest weighting in the index, increased 1.1% to C$74.21. Toronto-Dominion Bank (TSE:TD), the second-largest bank by market value, gained 0.8% to C$52.57.
The energy sector, the main index's second most heavily weighted group, skidded 0.1% as prices recovered some ground on Friday.
Brent futures for December delivery rose 0.2% to $49.82 a barrel. U.S. crude rose 0.7% to $46.68 per barrel.
The materials sub-index, which includes mining shares, slipped 0.6% as gold eased on Friday.
Goldcorp (TSE:G), Canada’s largest gold miner by market value, fell 0.3% to C$20.03. Barrick Gold (TSE:ABX), Canada’s second-largest gold miner, sank 2.7% to C$10.19.
Spot gold was down 0.1% at $1,181.66 an ounce, while U.S. gold futures for December delivery were down $5.40 an ounce at $1,182.10.
In economic news, Canadian factory sales dropped by 0.2% in August, and the first slump in four months was smaller than economists forecast.