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TSX climbs to record high above 15,950

The Toronto Stock Exchange’s benchmark index rose to a new intraday record on Friday, as financial services and energy companies that are so prevalent on the exchange moved higher.

Shortly before noon ET, the S&P/TSX Composite Index was trading at 15,951, besting its previous high of 15,943 set back in February.

Virtually all sectors of the TSX were higher, with the exception of materials and consumer discretionary companies. 

Oil prices gained more than $ 1 US, which boosted Canadian energy companies. 

Suncor shares gained half a per cent and were trading at $ 43.30 a day after reporting better than expected profits. Imperial Oil was up by two per cent to $ 40.62, despite reporting a smaller profit on Friday morning.

Natural gas giant Encana was up almost five per cent to $ 14.36.

Banks also rose. Royal Bank was up half a per cent to $ 101.47. TD gained about the same, to $ 72.82. 

Among the laggards were uranium miner Cameco, which lost 10 per cent, and toymaker Spin Master which lost five per cent.

If the gains hold until the close, the TSX will beat its closing record, which was 15,922 on Feb. 21.

CBC | Business News