TSX Recovers on Mining Gains
The S&P/TSX Composite Index rose over 0.5% to hover near 36,000 on Friday, recovering from earlier losses with support from mining shares. Democrats regained control of both chambers of Congress in the US, raising hopes of easing trade tensions, as a Democratic majority could constrain some of President Trump’s trade policy decisions. Meanwhile, Canada’s trade surplus widened to C$5.35 billion in September, as higher energy and gold exports to the US appeared to offset tariff impacts. Agnico Eagle and Franco-Nevada rose about 1%, while WPM added nearly 2% after reporting record nine-month results on Thursday, with Q3 revenue soaring 62%. Broader sectors were mixed as investors assessed weaker-than-expected jobs data. Canadian employment fell by 4,700 in October, improving from September’s 68,300 decline but missing forecasts of a 13,600 increase. On the week, the index is set to gain over 1%.
The S&P/TSX Composite Index rose over 0.5% to hover near 36,000 on Friday, recovering from earlier losses with support from mining shares. Democrats regained control of both chambers of Congress in the US, raising hopes of easing trade tensions, as a Democratic majority could constrain some of President Trump’s trade policy decisions. Meanwhile, Canada’s trade surplus widened to C$5.35 billion in September, as higher energy and gold exports to the US appeared to offset tariff impacts. Agnico Eagle and Franco-Nevada rose about 1%, while WPM added nearly 2% after reporting record nine-month results on Thursday, with Q3 revenue soaring 62%.
Broader sectors were mixed as investors assessed weaker-than-expected jobs data. Canadian employment fell by 4,700 in October, improving from September’s 68,300 decline but missing forecasts of a 13,600 increase. On the week, the index is set to gain over 1%.