TORONTO: Canada's main stock index climbed on Friday in low-volume trading after signs of improving growth in the economy boosted sentiment and a jump in the price of bullion lifted gold-mining shares.
Data showed Canada's economy recording third-quarter growth at the fastest pace in two years, helped by consumer spending and business inventory accumulation.
The Toronto market extended its gains to a third straight session and looked set to post its fifth consecutive monthly gain.
Trading activity was sluggish on the day following the US Thanksgiving holiday, with US markets scheduled for an abbreviated trading day on Friday.
"It will be extremely quiet, but we expect the market to have an upward bias," said Irwin Michael, portfolio manager at ABC Funds.
"We'll probably see higher prices between now and year-end," he added.
The Toronto Stock Exchange's S&P/TSX composite index was up 87.49 points, or 0.65 percent, at 13,458.32.
About 63 million shares changed hands, compared with an average daily volume of about 294 million shares in October, according to market operator TMX Group.
Despite its sharpest one-day decline in more than two months on Tuesday, the index was on track to end the week higher. The benchmark is up about 7.5 percent this year.
Nine of the 10 main sectors on the index were higher on Friday.
Financial shares were up 0.5 percent. Royal Bank of Canada advanced 0.5 percent to C$70.73, and Bank of Montreal rose 0.9 percent to C$74.06.
Gold-mining shares jumped 1.5 percent, mirroring an increase in the price of bullion.
Shares of energy producers, benefiting from a higher oil price, gained 0.9 percent. Suncor Energy Inc was up 1.8 percent, at C$36.99, playing the most influential role of any single stock in leading the market higher.
In corporate news, an Australian regulator put on hold Saputo Inc's bid for Warrnambool Cheese and Butter Factory Co. Saputo's stock was up 1.5 percent to C$49.06.
With a group of investors moving to acquire Atrium Innovations Inc, shares of the dietary supplements maker shot up 23.4 percent to C$24.17.
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