12:17 PM EDT, 07/12/2024 (MT Newswires) -- The Toronto Stock Exchange is up 145 points at midday and at all-time record intraday highs, with nearly all sectors higher.

The biggest gainers are miners (+1.5%) and telecoms and financials, both up 0.8%. TD Bank (TD.TO) is the most actively traded, with near 8 million shares being traded. TD has hired two former regulators for its anti-money-laundering team as it reinforces its risk controls amid a lengthy probe by U.S. regulators and law enforcement agencies, The Globe and Mail reported.

Healthcare, down 0.3%, is the sole decliner.

Oil prices rose for a third-straight day early on Friday on strong summer demand and a lower dollar even after the United States reported its Producer Price Index (PPI) rose more than expected last month, countering some of the day-prior optimism spurred by slowing consumer-price inflation.

Gold fell off a seven-week high even as the dollar and yields weakened despite a report showing U.S. producer prices rose more than expected last month.

Natural gas was steady following three losing sessions, as a day-prior report showed inventories rose more-than-expected last month and long-term forecasts cool.

In terms of domestic economics data, Canadian existing home sales increased 3.7% month-on-month (m/m) in June, leaving them 8% below their pre-pandemic level. Nation-wide, sales were driven higher by gains in Ontario (+6.1%m/m), Quebec (+4.2% m/m), B.C. (+2.7% m/m) and Alberta (1.4% m/m). However, sales were up in every province except in PEI's volatile market.

TD Economics noted Friday the combination of lower yields and more supply available for purchase was enough to push sales higher last month. However, it also noted, "activity is still quite subdued", as sales levels remain low. TD said "compositional forces were again at play (e.g., a larger share of higher-priced homes sold)" last month, as average prices advanced a "robust" 1.5% m/m, while monthly growth in quality-adjusted benchmark prices was nearly flat. "The Bank of Canada also cut their policy rate last month, although this didn't move the dial on affordability to any significant degree," the bank added.

TD noted the capital gains inclusion rate increased from 50% to 67% last month, which may have upwardly pressured supply, with investors and owners listing their properties to get ahead of the late-June implementation deadline. "Unfortunately," the bank said, "data gaps preclude a definitive statement on the matter."

Notably, according to TD, benchmark prices increased ("albeit modestly") for the first time in 11 months. "This," TD said, "could be a harbinger of improved activity ahead. Indeed, we think that markets will be stronger in the back half of the year, as the economy holds up and more meaningful interest rate relief is delivered. However, stretched affordability conditions will likely limit the degree of improvement."