Canadian equities gained over the week, adding nearly 200 points as strength in financials sector and the commodity markets dominated.
Shares of Royal Bank (RY), Bank of Nova Scotia (BNS)and Manulife Financial (MFC)led the gains on the index as continued momentum from strong earnings reports and positive sentiments about the economic outlook boosted shares. The commodity markets gained as both crude oil and natural gas rallied on the week.
Shares of Canadian Natural Resources (CNQ),Talisman Energy (TLM) and Encana (ECA) led the gains as the sector rose 0.4%. The materials sector also rose over the week, posting a 0.2% increase.
Shares of Potash Corp (POT) Ivanhoe Mines (IVN) and Alcan (AL) led the gains as increases in the copper and aluminium markets boosted shares. Overall, the S&P/TSX Composite Index gained 194.10 points or 1.5% to close at 13,057.40.