Bay Street Yawns At Jobs Data, Oil Rally -- Canadian Commentary

(RTTNews) - Canadian stocks inched higher Friday, as traders weighed relatively upbeat jobs reports from both sides of the border.

Energy stocks were flat despite soaring crude oil prices, but gold and health care stocks rebounded today.

The S&P/TSX Composite Index was up 24.99 points, or 0.17%, to 15,052.52.

National Bank (NA.TO) raised its dividend but reported fourth quarter profits fell 11.5% percent on restructuring charges. Shares rose 0.9% today.

Bombardier (BBD.B.TO) won orders for two CS300 and one Q400 aircraft from Tanzania. The combined value of purchase agreements is approximately US$200 million.

Jan. WTI oil gained 62 cents, or 1.2%, to settle at $51.68/bbl.

Prices surged 12% this week, mostly after OPEC's deal with Russia to curb supplies, a move intended to keep oil prices above $50 a barrel.

Baker Hughes reported that the number of active U.S. rigs drilling for oil climbed by 3 to 477 rigs this week.

Gold steadied after hitting 9-month lows Friday, as traders bet the recent sell-off was overdone.

Feb. gold settled at $1,177.80/oz, up $8.40, or 0.7%. Gold was down 0.1% for the week.

Canada's unemployment rate dropped to 6.8% in November, as the economy generated 11,000 jobs. Labor productivity was up 1.3%.