TSX ends up 1% at 25,031.51

For the week, the index adds 1.3%

Canadian National Railway gains 5.7%

Magna falls 5.8% after earnings miss

May 2 – Canada’s main stock index rose to a one-month high on Friday, led by gains for industrial shares, as stronger-than-expected U.S. jobs data contributed to increased investor confidence that a recession can be avoided.

Toronto Stock Exchange’s S&P/TSX composite index ended up 235.96 points, or 1%, at 25,031.51, its highest closing level since April 2. For the week, the index was up 1.3%.

Trade tariff developments, as well as the strength of the U.S. jobs report and corporate earnings “suggest that we’re moving further away from the worst case scenarios,” said Angelo Kourkafas, senior investment strategist at Edward Jones.

“We’re looking at a potential slowdown, not a recession, in the U.S., or Canada for that matter.”

Wall Street stocks also advanced on signs of easing trade tensions between the U.S. and China and after the U.S. economy added more jobs than expected last month.

Prime Minister Mark Carney said he would be in Washington next Tuesday for what he expects will be “difficult but constructive” talks with U.S. President Donald Trump, who he has accused of trying to break Canada.

Industrials rose 2.1% as Canadian National Railway Co added 5.7% after its quarterly results beat estimates.

Technology was up 1.6% and heavily weighted financials ended 1.2% higher.

Imperial Oil Ltd posted its highest-ever first-quarter earnings, driven primarily by stronger margins in its refining and fuel sales business. Its shares rose 1.2%.

The energy sector added 0.9% even as U.S. crude oil futures settled 1.6% lower.

The materials group was one of just two major sectors to end lower, falling 0.4%, as the price of gold edged down.

Auto parts supplier Magna International Inc missed quarterly earnings estimates and said it plans to implement cost-saving measures to cushion the hit from tariffs. Its shares ended 5.8% lower.

This article was generated from an automated news agency feed without modifications to text.