TSX Rises on BoC Rate-Hold Expectations

The S&P/TSX Composite Index rose about 1% to near 35,500 on Friday as weaker employment data reinforced expectations that the Bank of Canada will hold interest rates steady. Employment fell by 68,000, missing expectations for a 7,000 increase, while the unemployment rate edged up 0.1 percentage point to 6.5%, in line with forecasts. Canadian bond yields moved lower and oil prices eased from recent peaks, supporting credit-sensitive stocks. RBC, BMO, Scotiabank and CIBC rose around 0.5% each. Gold prices also advanced, lifting mining shares, with Agnico Eagle, Barrick and WPM gaining more than 2% each. Energy stocks rose as oil prices remained elevated, with Canadian Natural and Suncor up about 1%. Elsewhere, Aritzia surged nearly 15% after beating expectations for second-quarter revenue and profit.