TSX Ends Higher On Upbeat Economic Data - Canadian Commentary

(RTTNews) - The Toronto stock market's benchmark index closed higher for a third session on Friday after data showed that the Canadian economy grew at a faster pace than analysts expected in the third quarter.

With the U.S. markets having a truncated trading day following the U.S. Thanksgiving holiday, trading was light.

Statistics Canada said the nation's economy expanded 0.7% in the third quarter, following 0.4% growth in the second quarter. On a monthly basis, real GDP grew for a third successive month, adding 0.3% in September. On an annualized rate, real GDP expanded 2.7% in the third quarter, beating the consensus estimates for a 2.5% growth.

The S&P/TSX composite index closed 24.57 points, or 0.18%, higher at 13,395.40, with intraday low of 13,371.75 and high of 13,496.68. Seven of the 10 main sectors on the index were higher.

Crude for January delivery rose $0.42 to $92.72 a barrel on the New York Mercantile Exchange. Imperial Oil (IMO.TO) climbed 1.5% and Crew Energy (CR.TO) gained 1.6%.

Gold for December rose $12.8 to $1250.6 an ounce, lifted by month end short covering and position balancing in addition to a slightly lower Greenback. Among gold stocks, Agnico-Eagle Mines (AEM.TO) climbed 2.1%, while Royal Gold (RGL.TO) rose 1.6% and Kinross Gold (K.TO) gained 1%.

Shares of Atrium Innovations Inc. (ATB.TO) jumped 24.3% after the dietary supplements maker said that it has entered into a definitive arrangement agreement with a company backed by the Permira funds whereby the Permira funds will acquire all the issued and outstanding common shares of Atrium, other than the shares to be rolled over by Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec, for C$24.00 in cash per share.