Stocks in Toronto saw gains on Friday, with most sectors in positive territory. The industrial product price index in Canada fell 1.0% in October after a slight increase of 0.4% in September.
Positive Sectors Lead the Way
The energy, health tech, and tech sectors were the top performers, while consumer durables and minor losses in commercial services and transportation weighed on the market.
Strong Performance from Canadian Indices
The S&P/TSX Composite Index rose 0.56% to reach 20,164.62, and the blue-chip S&P/TSX 60 was up by 0.61% at 1,216.72.
MDA Shares Soar on Satellite Constellation Contract
MDA shares surged 5.4% to reach 11.50 Canadian dollars ($8.36) as the company announced it had started working on a C$180 million satellite constellation contract for an undisclosed client.
Other Market Developments
Canadian Pacific Kansas City is currently reviewing a draft decree issued by Mexico's government aimed at boosting passenger traffic on rail lines. However, the company does not anticipate any negative impact on its concession in the country. The stock is down 0.7% at C$97.91.
BlackBerry secured a long-term software and services agreement to enhance Malaysia's cybersecurity efforts. This news pushed the company's shares up by 0.4% to C$4.98.