Canada’s main stock index edged higher on Friday and was on pace for its best weekly performance since early February 2021, lifted by gains in miners and upbeat retail sales data for May.

At 10:22 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was up 41.07 points, or 0.22%, at 19,103.92.

Data showed Canadian retail sales rose 2.2% in May from April to C$62.25 billion ($48.26 billion), on higher sales at gasoline stations, as well as motor vehicle and parts dealers.

Equities have made a comeback this week as traders pare bets of a 100-basis-point interest rate hike by the U.S. Federal Reserve next week, easing fears around aggressive monetary policy tightening.

The TSX was set to end the week with a rise of 3.8%, which would be its biggest in more than a year.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.3% as gold futures rose 1.3% to $1,735 an ounce, while copper prices tracked their first weekly rise in seven weeks.

The energy sector climbed 0.4% and the financials sector gained 0.1%, while the industrials sector rose 0.3%.

Highlights

On the TSX, 161 issues were higher, while 73 issues declined for a 2.21-to-1 ratio favoring gainers, with 34.76 million shares traded.

The top percentage gainers on the TSX were First Majestic Silver, and Wesdome Gold Mines, which rose 4.6% each.

Shopify Inc fell 4.6%, the most on the TSX, followed by pot producer Aurora Cannabis, down 4.1%.

The TSX posted 3 new 52-week highs and no new lows.

Across all Canadian issues there were 4 new 52-week highs and 7 new lows, with total volume of 63.63 million shares.