TSX Ends Modestly Higher

(RTTNews) - The Canadian stock market ended on a positive note on Friday, rebounding from losses in the previous two sessions, after comments from U.S. President Donald Trump triggered mild optimism about a U.S.-China trade deal.

Higher crude oil prices helped lift prices of some energy stocks, contributing to the market's positive close. A few stocks from financial and cannabis sections saw strong buying.

The benchmark S&P/TSX Composite Index ended higher by 65.43 points, or 0.4%, at 16,230.04, after advancing to a high of 16,251.48.

The index lost 1.05% in the truncated week.

Among energy stocks, Enbridge Inc. (ENB.TO), TC Energy Corporation (TRP.TO), Suncor Energy (SU.TO) and Crescent Point Energy (CPG.TO) gained 0.8% to 1.2%. MEG Energy Corp. (MEG.TO) climbed up 4.3%

Aphria Inc. (APHA.TO) soared nearly 15% on strong volumes. CannTrust Holdings (TRST.TO) and Hexo Corp. (HEXO.TO) gained 1.45% and 1.3%, respectively. Aurora Cannabis (ACB.TO) ended higher by about 0.8%.

In the financial space, Bank of Montreal (BMO.TO) rose 1.7%, Royal Bank of Canada (RY.TO) gained 1.25%, Toronto-Dominion Bank (TD.TO) advanced by 0.85% and Canadian Imperial Bank of Commerce (CM.TO) ended up by about 0.7%.

Sun Life Financial Inc. (SLF.TO) and Manulife Financial Corporation (MFC.TO) also ended notably higher.

From the materials section, Lundin Mining Corporation (LUN.TO), Nutrien (NTR.TO), Teck Resources (TECK.B.TO), Wheaton Precious Metals (WPM.TO), CCL Industries (CCL.B.TO) and Kirkland Lake Gold (KL.TO) ended on a firm note.

U.S. stocks ended modestly higher on bargain hunting and amid slightly fading worries about U.S.-China trade conflict after Trump said he remains hopeful of a trade deal and that he will meet with Chinese President Xi Jinping at the G20 summit next month.

Caution ahead of a long weekend and weak data on durable goods orders limited market's gains.

The Dow ended 0.4% up, while the Nasdaq and the S&P 500 both edged up by 1%.

European markets moved higher, while Asian markets turned in a mixed performance.

In commodities, West Texas Intermediate Crude oil futures for June ended up $0.72, or 1.2%, at $58.63 a barrel.

Gold futures for June ended down $1.80, or 0.1%, to settle at $1,283.60 an ounce.

Silver futures for July ended down $0.058, at $14.555 an ounce, while Copper futures for July ended at $2.6995 per pound, gaining $0.0190 for the session.