TSX Ends Nearly 1.5% Up

(RTTNews) - The Canadian stock market shrugged off a mid-morning setback and ended on a buoyant note on Friday, riding on rising optimism about a rapid economic recovery after data showed a bigger than expected jump in U.S. jobs growth.

Higher crude oil prices propped up energy stocks, contributing significantly to market's strong close. Several stocks from telecom, industrials, materials and financial sectors too posted handsome gains. Consumer discretionary and consumer staples shares rose as well.

The benchmark S&P/TSX Composite Index ended stronger by 255.24 points or 1.41% at 18,380.96, after scaling a low of 17,998.32 and a high of 18,406.45 intraday. The index gained about 1.8% in the week.

The Capped Energy Index climbed 3.4%. Crescent Point Energy (CPG.TO) surged up 8.3%, Vermilion Energy (VET.TO) and Whitecap Resources (WCP.TO) gained 6.5% and 6.3%, respectively, while Enerplus Corp (ERF.TO), Seven Generations Energy (VII.TO), Cenovus Energy (CVE.TO), MEG Energy (MEG.TO) and Arc Resources (ARX.TO) gained 4 to 5.6%.

Telecom stocks Rogers Communications (RCI.B.TO), Shaw Communications (SJR.B.TO) and Quebecor (QBR.B.TO) gained 3.3 to 4.3%, while BCE Inc (BCE.TO), Corus Entertainment Inc (CJR.B.TO) and Telus Corp (T.TO) gained 2 to 2.2%.
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