RTTNews - Toronto stocks finished notably higher on Friday, led by a strong day for gold and mining stocks, which outweighed a rough session for Research in Motion (RIM.TO).
The S&P/TSX Composite Index rose 166.45 or 1.64% to settle at 10,287.95. The market had hit a three-week closing low on Wednesday.
Gold stocks added 3.9% and materials stocks have climbed 2.7%. Yamana Gold (YRI.TO) gained 2.3% after it declared a second quarter dividend of $0.01 per share for shareholders on record June 30, payable July 14.
Among the other big names, Newmont (NEM.TO) added 7.2%, New Gold (NGD.TO) rose 6.6% and Eldorado (ELD.TO) climbed 6.1%.
Mining stocks jumped 3.8% as copper gained 2.15 cents to $2.2505 a pound. First Quantum (FM.TO) rose 6.2% to lead the gainers.
Healthcare stocks added 2.5% as Biovail (BVF.TO) rose 4.7% after being upgraded to the Action Buy list from Buy at TD Newcrest.
On the downside, technology stocks dropped 1.5%. Research in Motion (RIM.TO) gave up 3.1% after the Blackberry maker reported it expects to report second quarter EPS between $0.94 and $1.03, compared to the $0.97 expected by analysts. First quarter earnings were $1.12 per share, up from the $0.84 last year. The company
Apple's (AAPL) iPhone 3G S officially went on sale Friday. Customers lined up at Apple and AT&T (T) stores for the new smartphone, which comes up with improved speed, longer battery life, 3-megapixel camera and more.
Greystar Resources (GSL.TO) added 1.6%. The company announced the resignation of Chief Financial Officer Pauline Pasetka. Executive Vice President Frederick Felder has been appointed acting CFO until a replacement is found.
Africo Resources (ARL.TO) added 4.4% announced that the company's minority shareholders have approved the deal with Camrose Resources Ltd. and Comide Sprl, under which, all parties had consented to terminate the acquisition by Africo of the Mashitu property.
Alexis Minerals (AMC.TO) rose 3.1% after the company announced that it will sell 11.66 million units at a price of $0.50 per unit and 7.45 million flow-through common shares at a price of $0.56 per Flow-Through Share for aggregate gross proceeds of $10 million.
On the economic front, retail sales in Canada declined 0.8% in April. Sales were expected to fall 0.2%, compared to a 0.3% rise last month.
On Monday, international securities transactions data will be made public at 8:30 a.m. ET.
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