The Motley Fool

Canadian Stocks End the Week On a Positive Note

The S&P/TSX Composite Index (^GSPTSE) managed to eke out a gain of about 58 points on Friday as positive vibes from the morning’s stronger than expected U.S. jobs data emanated throughout the day.

Today’s 58 points allowed the Canadian market to close up about 1.8% on the week.  Not bad given the mid-week commodity driven sell-off that we had to endure.

Leading the market higher was Manulife Financial (TSX:MFC).  The life insurer jumped 1.8% as investors continued to digest yesterday’s quarterly release.

Teck Resources (TSX:TCK.B) was the second largest contributor to today’s positive return as the company’s stock climbed 3.1%.  The price of copper, one of Teck’s products, was up 6.5%, its biggest gain since October 2011.  This provided a nice Friday tailwind for Teck.

Although better known for its gold, Barrick Gold (TSX:ABX) also has a sizeable exposure to copper.  Thanks to the commodity’s big move, Barrick’s stock was up 2.2%.

Alimentation Couche-Tard (TSX:ATD.B) was the day’s biggest drag as the stock fell 1.7%.

If you own, or are thinking of purchasing a Canadian index fund you need to click here and read our special FREE report “Buy These 5 Companies Instead of Following a Flawed Piece of Advice”.  Your portfolio will thank you!

Follow us on Twitter and Facebook for the latest in Foolish investing.

Fool contributor Iain Butler is short $26 August 2013 put options on Teck Resources and owns shares of Teck and Barrick Gold outright.  The Motley Fool has no positions in the stocks mentioned above.

Just Released! 5 Stocks Under $49 (FREE REPORT)

Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. Don't miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now.

Claim your FREE 5-stock report now!

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.