TORONTO -- The Toronto Stock Exchange's main index closed higher Friday, kicking off the month with a boost from higher commodity prices, positive U.S. economic data, and takeover speculation over Stelco Inc.
The S P/TSX composite index closed up 62.59 points, or 0.5%, at 14,119.
37, about 23 points shy of its record close, set in May.
The benchmark index ended a see-saw week 0.7% higher, and gained 4.
6% in May.
Talisman Energy advanced 60 cents, or 2.
8%, to $22.20, while Petro-Canada added $1.13, or 2.
1%, to $55.10.
Stelco Inc.
, the last of the Canadian-owned steel giants, spiked $5.03, or 18.7%, to $31.
93 after the company confirmed that it was up for sale.
Miners piggy-backed on strong base metal prices, lifting the TSX mining sub-sector 0.7%.
The price of gold climbed to a two-week high, boosting Canadian producers such as Goldcorp , which added 1.2% and closed at $26.04.
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