Canadian Imperial Bank of Commerce and Toronto-Dominion Bank added to a string of strong financial reports this week from Canada's big banks, which have largely defied expectations that ugly economic indicators would begin to take a toll on the sector.
Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria.
The S&P/TSX composite index soared by 385 points or 2.9 per cent. All 10 sectors were in positive territory. The solid gains were powered higher by oversold resources stocks.
Svenska Cellulosa AB, Europe's largest private forest owner, will create two divisions, one for forest products and another for consumer products, in a move that could foreshadow a breakup of the company.
The graphic video has prompted McDonald's to cut ties with one of its chicken suppliers. A criminal investigation has also been launched.