Canadian Stocks Fight Back, TSX Up 100 Points -- Canadian Commentary

(RTTNews) - Canadian stocks rallied Friday, following global markets higher in rebounding from mid-week losses.

Energy shares climbed despite a drop in crude oil prices, while consumer staples soared on bargain hunting amid beaten down retailers.

The S&P/TSX Composite Index was up 102.26 points, or 0.74 percent, to 13,919.58.

WTI crude oil fell 0.9 percent, to $47.75 a barrel on the New York Mercantile Exchange, down from 15-month highs.

Baker Hughes showed that the number of active U.S. rigs drilling for crude was unchanged at 318 after falling over the last eight weeks in a row.

Bombardier (BBD.B.TO) said it will deliver 16 streetcars to Toronto by the end of this year, 40 in 2017, 76 in 2018, and 57 in 2019. Shares were up fractionally.

Imperial Oil (IMO.TO) has restarted limited operations at its Kearl oil sands site. The stock rose 0.8 percent.

Meanwhile, Connacher Oil has received court approval to put its oilsands leases and plants up for sale.