(Reuters) - 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 9:57 a.m. ET (1357 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 323.26 points, or 2.33%, at 14,222.58.
* 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 (O:GILD).
* 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 (GSPTTMT) losing 1.2%.
* Prices of gold slipped on Friday, pressured by the pickup in stock markets globally.
* Oil prices remained mixed with U.S. crude (CLc1) off 8.9% a barrel and Brent (LCOc1) adding 1.6% but energy sector (SPTTEN) climbed 4.3%. [O/R]
* Canadian equities have somewhat reclaimed lost ground on central bank and government stimulus, but have fallen over 21% since hitting an all-time high in mid-February.
* The financials sector (SPTTFS) gained 3.5%. The industrials sector (GSPTTIN) rose 2.1%.
* On the TSX, 198 issues were higher, while 30 issues declined for a 6.60-to-1 ratio favouring gainers, with 48.64 million shares traded.
* The Stars Group (TO:TSGI) jumped 15.5% to the top of TSX, after the betting firm forecast upbeat first-quarter revenue as it saw increased customer activity across online poker and casino product offerings largely beginning in March.
* Gold miners led losses on the TSX with shares in Alacer Gold Corp (TO:ASR) off 6.9% and Alamos Gold (TO:AGI), down 4.9%.
* The most heavily traded shares by volume were those of Bombardier (TO:BBDb) and Crescent Point (TO:CPG).
* The TSX posted three new 52-week highs and no new low.
* Across all Canadian issues there were six new 52-week highs and two new lows, with total volume of 78.52 million shares.