TSX adds to weekly gain as Canada's economy shows resilience

Kitco Media
By Reuters
Published:
Updated:
Reuters

April 6 (Reuters) - Canada's main stock index edged higher on Thursday, adding to its weekly gain, as most major sectors advanced and domestic data showed the economy adding more jobs than expected last month.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 37.14 points, or 0.2%, at 20,196.69, preliminary data showed.

For the week, it was up 5%, its third straight weekly advance. The market is set to be closed on Friday for Good Friday.

The Canadian economy added 35,000 jobs in March and the unemployment rate remained near a record low, a sign of economic resilience ahead of a central bank policy meeting next week.

U.S. benchmark the S&P 500 also rose as investors awaited U.S. jobs data on Friday amid recent signs of a slowing U.S. economy.

Nine of the TSX's 10 major sectors gained ground, including a gain of 0.7% for consumer staples rose, while industrials ended 0.6% higher.

Energy gave back some of its weekly gain, falling 0.7%. It was boosted earlier in the week by a jump in oil prices after major producers cut their output target.

Reporting by Shristi Achar A in Bengaluru; Editing by Alistair Bell
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