Canadian stock market climbs on financials, gold miners rallies

 Canada's main stock market Friday rose for the fourth consecutive day, ending the week with another record close, as financial and gold shares helped lift the market sentiments.
Toronto Stock Exchange's benchmark S&P/TSX Composite Index moved up 60.59 points or 0.39 points to 15,455.04 points.
Financials, the most weighed sector in TSX, led the gains by advancing 0.59 percent, as insurances and banks shares provided support.
The giant insurance service provider Manulife Financial Corp. climbed 1.05 percent to 22.09 Canadian dollars (about 20.43 U.S. dollars) after its division Manulife Mutual Funds announced a number of fund merger plans on Thursday. Sun Life Financial Inc. also added 1.02 percent to 41.4 Canadian dollars ahead of its second quarter earnings report due on Aug. 6.
Canada's second largest bank TD grew 1.02 percent to 56.52 Canadian dollars. More than 20,000 TD employees across Canada distributed green envelopes containing a 20 Canadian dollars bill to every customer in more than 1,100 TD branches.
Major gold miners were also among the biggest positive contributors. The S&P/TSX Global Gold Index rose 3.33 percent, following a three-day slump in this week, when the most active gold contract for August delivery rose 12.5 U.S. dollars, or 0.97 percent, to 1,303.3 dollars per ounce on the COMEX division of the New York Mercantile Exchange.
The world's biggest gold producer Barrick soared 2.75 percent to 20.20 Canadian dollars; Eldorado jumped 5.13 percent to 8.41 Canadian dollars, while Yamana also rallied 3.21 percent to 8.99 Canadian dollars.
However, the mining sector, as a whole, lost ground by 0.27 percent when the leading company Teck Resources Ltd. shrank 2.24 percent to 25.36 Canadian dollars.
The telecom sector decreased 0.95 percent as well when Telus moved down 1.42 percent to 37.54 Canadian dollars and Bell Aliant plunged 1.47 percent to 30.93 Canadian dollars.
On the currency front, the Canadian dollar Friday declined to 0. 9247 U.S. dollar, compared with 0.9307 U.S. dollar on Thursday.