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(Mario Tama/2006 Getty Images)
(Mario Tama/2006 Getty Images)

TSX boosted by higher commodity prices Add to ...

The Toronto stock market ended Friday with a triple-digit gain as investors found motivation in stronger commodities prices.

The S&P/TSX composite index closed ahead 110.43 points to 10,787.15.

Gold stocks led the gains, up 3.6 per cent, as bullion for December rose $18.50 (U.S.) an ounce to close at $955.80 on the Nymex.

Markets

Energy stocks were ahead 1 per cent as the September crude delivery moved ahead $2.51 to $69.45 a barrel on the New York Mercantile Exchange.

"With oil, gold, silver and other commodities strong, we're outperforming the U.S. on a relative basis," said Paul Taylor, chief investment officer with BMO Harris.

"The visibility on a sustainable economic recovery is becoming more confident with every passing day."

Metals stocks were up 3.6 per cent, while financials stocks picked up 0.9 per cent.

The TSX Venture Exchange wrapped the session 32.53 points higher to 1,179.57.

The TSX will be closed on Monday in observance of a civic holiday.

Statistics Canada said that GDP fell 0.5 per cent in May, a faster rate of decline than in the previous three monthly reports. The Canadian dollar was at 92.81 cents, up 0.58 of a cent.

On Wall Street, the Dow Jones industrials was ahead 17.15 points to 9,171.61, closing out its best month of gains since 2002.

The Nasdaq composite slid 5.80 points to 1,978.50 while the S&P 500 index shifted up 0.73 of a point to 987.48.

A U.S. Commerce Department report said the economy slowed at a rate of one per cent during the quarter, better than the 1.5 per cent decline expected by analysts.

The report was one of the strongest signs yet that the recession is winding down.

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