The Toronto stock market closed the week with a strong advance as it played catch-up with U.S. indexes after being shut for Christmas and Boxing Day.
The S&P/TSX composite index closed up 69.96 points to 13,587.98 – the highest level since May 2011. The loonie fell 0.75 of a cent to 93.42 cents (U.S.).
The gain on the TSX came even as the market digested news that BlackBerry co-founder Mike Lazaridis had cashed in $26-million worth of shares in the struggling smartphone company.
The transaction, reported after the TSX closed early on Tuesday, now brings Lazaridis’ stake in the tech company down to five per cent. BlackBerry shares dipped 5.09 per cent, or 42 cents, to $7.83.
Meanwhile, U.S. indexes ended the week relatively flat as the Dow Jones industrials dropped 1.47 points to 16,478.41, and the S&P 500 index declined 0.61 of a point to 1,841.41. The Nasdaq took back 10.59 points to 4,156.59.
Gold prices rose $1.70 to $1,214 (U.S.) an ounce, February crude oil rose 77 cents to $100.32 a barrel and March copper fell a penny to $3.39 a pound.