* TSX up 111.82 points, or 0.72 percent, to 15,729.12
* Nine of the TSX's 10 main groups were up/down
By Solarina Ho
TORONTO, Feb 10 Canada's main stock index
powered to a record high on Friday propelled by higher oil
prices and expectations of corporate-friendly tax cuts in the
United States, while an unexpected surge in domestic job growth
also suggested a brighter economic outlook.
The Toronto Stock Exchange's S&P/TSX composite index
finished up 111.82, or 0.72 percent, at 15,729.12,
with all but one of the index's 10 main groups ending in
positive territory. The TSX rose 1.6 percent on the week.
The moves mirrored Wall Street, where markets hit fresh
highs on oil prices and optimism over U.S. President Donald
Trump's economic agenda.
"Donald has promised a 'phenomenal' tax plan. At this stage
they're willing to bet that in fact it will be somewhat
stimulative," said Paul Taylor, chief investment officer of
Fundamental Equities at BMO Asset Management. "It's a
pro-growth, cyclical-led rally."
The most influential movers on the index included Royal Bank
of Canada, which rose 0.7 percent to C$96.84, and Teck
Resources, which advanced 5.8 percent to C$32.60.
The overall financials group gained 0.5 percent, while
materials, home to mining and other resources stocks, was up
nearly 1.5 percent.
Oil prices climbed following reports that OPEC members
delivered more than 90 percent of the output cuts they promised
in a landmark deal that took effect last month.
U.S. crude prices were up 1.5 percent to $53.79 a
barrel, while Brent crude added 1.8 percent to
The energy group rallied 1.0 percent in response, with
Canadian Natural Resources advancing 1.1 percent to
Canada unexpectedly added 48,300 jobs last month, exceeding
economists' expectations for no employment growth.
"All of a sudden it appears we may close the gap with the
U.S more meaningfully than we would've thought," said Taylor.
Advancing issues outnumbered declining ones on the TSX by
202 to 41, for a 4.93-to-1 ratio on the upside.
The index posted 24 new 52-week highs and no new lows.
(Reporting by Solarina Ho; editing by Diane Craft)