Canada’s main stock index ended lower on Friday, driven by a drop in mining stocks amid concerns about the impact of trade tariffs on economic growth. Despite this, the index scored a weekly gain, ending the week around 400 points higher than where it started.
Sponsored by
On Thursday, the TSX closed slightly lower following its largest increase in over seven months the previous day, as investors grappled with economic uncertainty and the upcoming snap election.
Bank of Canada Governor Tiff Macklem stated on Thursday that due to the unpredictability of US tariffs, the bank had to make its monetary policy less forward-looking than usual.
The central bank is scheduled to release its quarterly monetary policy report on April 16th, which will include growth forecasts for the coming quarters and years.
US stocks rose, though the S&P 500 on track to continue its month-long decline caused by trade policy turmoil, recession fears, and a downturn in major technology stocks. Friday’s trading session was volatile, influenced by options expiring and the looming April 2nd tariff deadline set by President Donald Trump.
The Canadian dollar traded for 69.69 cents US compared to 69.71 cents US on Thursday.
US crude futures traded $0.12 higher at US$68.19 a barrel, and the Brent contract rose $0.08 to US$72.08 a barrel.
The price of gold was down US$15.73 to US$3,020.12.
In world markets, the Nikkei was down 74.82 points to ¥37,677.06, the Hang Seng was down 530.23 points to HK$23,689.72, the FTSE down 52.80 points to ₤8,649.19, and the DAX was down 107.47 points to €22,891.68.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image generated with AI.)