Equities in Toronto fell to over one-week lows on Friday, as concerns about high inflation due to the Middle East conflict set off a rout in global bonds market.
The TSX Composite Index jettisoned 483.73 points, or 1.4%, to break for lunch at 33,784.54. On the week so far, the index has dropped 293 points, or 0.86%.
Markets in Canada will be closed Monday for Victoria Day.
The Canadian dollar slipped 0.20 cents to 72.66 cents U.S.
On the earnings front, airborne survey firm NXT Energy's first-quarter revenue and profit fall on contract phase shift. NXT shares poked up half a cent, or 1.2%, to 43 cents.
Energy technology firm Questerre's first-quarter adjusted funds flow jumps on Brazil cost cuts. Questerre shares ducked 3.5 cents, or 10.6%, to 30 cents.
Americas Gold and Silver fainted $1.22, or 12.4%, to $8.59, Aya Gold & Silver dipped $3.25, or 11.1%, to $26.11, and Wesdome Gold Mines fell $3.66, or 12% to $26.98, and were the top losers on the benchmark index.
On the flip side, energy stocks as oil prices climbed after comments from Trump and Iran's foreign minister further dented hopes of a deal to end ship attacks and seizures around the Strait of Hormuz.
Conifex fell half a cent, or 4.4%, to 11 cents, after the lumber and bioenergy producer's first-quarter revenue fell on reduced operating days.
On the economic calendar, Canada Mortgage and Housing Corporation reported the trend in housing starts increased by 3.2% in April with 256,777 units.
Statistics Canada said foreign investors purchased $4.6 billion of Canadian securities in March, the lowest monthly investment since the beginning of 2026. Meanwhile, Canadian investors acquired $3.9 billion of foreign securities, well below the monthly average investment of $16.7 billion during the previous four months.
Moreover, manufacturing sales in this country rose 3.0% in March, driven largely by increased sales of petroleum and coal products and transportation equipment. On a quarterly basis, total sales edged up 0.1% in the first quarter of 2026.
ON BAYSTREET
The TSX Venture Exchange erased 26.89 points, or 2.7%, to 988.18. On the week, the decrease has been 9.1 points, or 0.91%.
All but three of the 12 TSX subgroups remained in minus country midday, as gold capsized 6.7%, materials weakened 8.1%, and health-care ailed 2.5%.
The three gainers proved to be energy, rumbling 1.7%, and telecoms, picking up 0.6%.
ON WALLSTREET
Stocks fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields, after a summit between President Donald Trump and Chinese President Xi Jinping ended and left traders worried about no major policy breakthroughs.
The Dow Jones Industrials dropped 543.32 points to move into noon hour Friday at 49,543.32.
The S&P 500 dumped 81.07 points, or 1.1%, to 7,420.17.
The NASDAQ sank 359.91 points, or 1.3%, to 26,277.60.
Investors took profits in tech after the group saw sharp gains recently. Notably, Intel retreated 6%, while Advanced Micro Devices and Micron Technology lost around 5% each. Nvidia dropped 4%, while Cerebras Systems — which surged 68% Thursday after it began trading on the NASDAQ — shed 4%.
Microsoft was an exception, however. The stock was nearly 2% higher after Bill Ackman said Friday that Pershing Square has built a position in the name.
Boeing shares extended their losses Friday, moving lower by 2% following a nearly 5% drop in the previous session, as investors were let down by Trump saying that China has agreed to buy 200 Boeing jets — just 50 more than the company had previously anticipated.
Prices for the 10-year Treasury weakened considerably, hiking yields to 4.59% from Thursday’s 4.48%. Treasury prices and yields move in opposite directions.
Oil prices gained $3.46 to $104.63 U.S. a barrel.
Gold prices slid $136.50 to $4,548.80 U.S. an ounce.
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