Bombardier Drags TSX A Bit Higher After CSeries Win -- Canadian Commentary

(RTTNews) - Canadian stocks rose Friday after a U.S. trade panel rejected Boeing's claim against Bombardier.

The trade commissio said Boeing was not injured by Canada's subsidies for Bombardier's CSeries jet. The U.S. Commerce Department's 292% duty on the CSeries jet was therefore blocked.

Bombardier shares jumped 15 percent.

It was an otherwise lousy day for the broader market, as investors remained concerned about NAFTA negotiations.

The TSX Composite Index was up 35.21 points to 16,239.22, trimming this week's losses.

Surging oil prices again had little effect on the dour mood.

Crude oil prices rallied to fresh 4-year highs Friday, extending strong weekly gains even as U.S. drillers continued to add rigs.

The oil rig count was up 12 to 759 in the week to Jan. 26, with the biggest weekly rise seen in the Permian field since 2013.

WTI light sweet oil was up 63 cents, or 1%, to settle at $66.14/bbl, for a gain of 4.5% on the week.