The Toronto stock market closed at a three-year high Friday as traders digested a generally positive bag of economic indicators.
The S&P/TSX composite index closed up 53.11 points at 14,054.76.
The Canadian dollar was off 0.05 of a cent at 91.05 cents (U.S.) as manufacturing shipments declined 0.9 per cent in December, the first month that has happened since August. Another report showed that harsh winter weather led to U.S. factory output falling by 0.8 per cent in January.
But New York indexes turned higher after the latest reading on U.S. consumer confidence, the University of Michigan’s index, was unchanged at 81.2. A slight drop had been expected.
The Dow Jones industrials jumped 126.8 points to 16,154.39, the Nasdaq was 3.36 points higher at 4,244.03 and the S&P 500 index rose 8.8 points to 1,838.63.
Elsewhere, data showed Chinese inflation well under control. That is encouraging because it leaves the Chinese government room to stimulate the world’s second-biggest economy. Other data showed that economic growth across the euro zone was stronger than expected in the fourth quarter of last year.