Canadian Shares Rebound on Friday

The S&P/TSX Composite index was 0.3% higher to trade at the 20,040 mark on Friday, rebounding from yesterday’s muted session amid continued support from resource-heavy sectors.

Miners traded in Toronto led the gains, supported by the sharp weekly upswing in gold prices despite the higher-than-expected producer price inflation print in the US.

Tech shares were also firmly in the green, outperforming their US counterparts in the Nasdaq index with a 3% jump for Shopify and a 1% advance for Constellation Software.

Still, the Composite index is set to close the week more than 2% lower, as the sharp decline for crude oil prices pressured energy producers.