TSX Declines on Higher Oil
The S&P/TSX Composite Index fell nearly 0.5% to trade below 36,000 on Friday as oil prices moved higher, with supply concerns persisting despite reports that Saudi Arabia was offering additional crude supplies through Oman. US President Trump noted the possibility that the US could re-escalate attacks against Iran after recent attempts at dialogue between Tehran, Washington, and GCC states failed to restore maritime oil exports. Canadian bond yields edged higher amid persistent energy-driven inflation concerns, pressuring credit-sensitive stocks. RBC and Manulife fell about 0.5%, while Great-West Lifeco shed 1%. Miners posted losses after closing sharply higher on Thursday, despite gold prices edging higher. Agnico Eagle and Barrick lost about 1% each, while Franco-Nevada and WPM fell more than 0.5%. In contrast, technology stocks were mostly higher, with Celestica up more than 2% and Shopify inching higher amid strength in Wall Street chipmakers.
5% to trade below 36,000 on Friday as oil prices moved higher, with supply concerns persisting despite reports that Saudi Arabia was offering additional crude supplies through Oman. US President Trump noted the possibility that the US could re-escalate attacks against Iran after recent attempts at dialogue between Tehran, Washington, and GCC states failed to restore maritime oil exports. Canadian bond yields edged higher amid persistent energy-driven inflation concerns, pressuring credit-sensitive stocks. 5%, while Great-West Lifeco shed 1%.
Miners posted losses after closing sharply higher on Thursday, despite gold prices edging higher. 5%. In contrast, technology stocks were mostly higher, with Celestica up more than 2% and Shopify inching higher amid strength in Wall Street chipmakers.