The Toronto stock market advanced Friday morning, building on the gains of the previous session amid positive economic data from the United States.
The S&P/TSX composite index gained 21.45 points to 14,383.28.
The Canadian dollar was up 0.11 of a cent at 89.06 cents (U.S.) in the wake of a better than expected reading on retail sales for January and slowing price pressures. Statistics Canada said sales were up 1.3 per cent, against the 0.7 per cent rise that had been expected.
U.S. indexes were also higher after the U.S. Conference Board’s index of leading indicators rose in February by the largest amount in three months. And a key manufacturing reading rebounded in March from a negative reading in February, suggesting that U.S. economic growth should bounce back following a harsh winter.
The Dow Jones industrials jumped 99.58 points to 16,430.63, the Nasdaq climbed 12.91 points to 4,332.19 and the S&P 500 index was ahead 10.68 points to 1,882.69.