At midday: TSX climbs on U.S. plans to reopen economy [Toronto Globe and Mail (Ontario, Canada)]
Gilead Sciences, Inc. (GILD)
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Source: Toronto Globe and Mail
At midday: TSX climbs on U.S. plans to reopen economy Canada’s main stock index rose on Friday, on track to add gains for four straight weeks on Washington’s plan to gradually reopen the country’s economy, while reports of a potential drug to treat COVID-19 added to the bounce. At 11:37 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was up 289.87 points, or 2.09%, at 14,190.46. U.S. President Donald Trump outlined a plan to ease the U.S. shutdown in a staggered, three-stage process, also helped lift the mood. Reports say that patients with severe COVID-19 symptoms had responded positively to a drug made by U.S. company Gilead Sciences. The news helped investors brush off a widely expected slump in Chinese GDP data. Ten of the index’s 11 major sectors were higher, with only the materials sector losing 0.83%. Prices of gold slipped on Friday, pressured by the pickup in stock markets globally. Oil prices remained mixed, but the energy sector climbed 5.3%. Canadian equities
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