Equities in Canada’s largest centre finished strongly on Friday but just finished to come into the green on the week.
The TSX jumped 94.43 points to close Friday at 35,800.89. On the week, the index still finished in the red 5.76 points, or 0.02%.
The Canadian dollar inched up 0.02 cents to 70.70 cents.
On the corporate front, National ?Bank of Canada plans to buy back 10 million shares for up to $2.25 billion, starting October 9, 2026 and ending October 8, 2027. National shares improved $2.83, or 1.4%, to $212.23.
Air Canada said it plans to buy back 27.6 million shares for $800 million at $29 apiece. Shares in “the Maple Leaf airline” dropped $1.62, or 5.6%, to $27.34.
Among consumer discretionary stocks, Magna International gained $4.09, or 4.7%, to $91.95, while BRP Inc. ticked higher $2.51, or 3.2%, to $80.86.
Telecoms did not fare so well, however, as Cogeco Communications shaved off $1.03, or 1.8%, to $54.80, while BCE Inc. slid 46 cents, or 1.5%, to $29.69.
Traders see a 65% chance that the Bank of Canada will hike interest rates by at least 25 basis points during the October meeting to combat inflation.
ON BAYSTREET
The TSX Venture Exchange edged higher 6.56 points to 920.47. Over the last five sessions, the index remained lower 2.6 points, or 0.28%.
Seven of the 12 subgroups were higher by the close, with consumer discretionary stocks stepping upward 1.9%, financials richer by 1%, and real-estate better 0.8%.
The five laggards were weighed most by telecoms, down 1.3%, energy, sagging 1%, and information technology, off 0.9%.
ON WALLSTREET
U.S. equities rose on Friday as Wall Street gets set to wrap up a volatile week of trading, with a surge in Treasury yields rippling through financial markets.
The Dow Jones Industrials recovered 487.61 points to 51,828.59
The S&P 500 index moved higher 39.38 points to 7,743.51.
The NASDAQ Composite climbed 129.34 points to 27,068.72.
Shares of Akamai Technologies led technology higher, jumping 5% after announcing a multiyear deal with Anthropic.
With the day’s gains, the Dow is heading for a winning week, up 0.1%. The S&P 500 is on track for a 1% advance, while the NASDAQ is higher by 2% week to date.
That’s being bolstered by technology stocks such as Meta Platforms, which has popped more than 12% on the week amid excitement surrounding its artificial intelligence agent Muse.
S&P 500 information technology has risen roughly 3%, which is the most of any of the index’s sectors.
Also helping sentiment, oil prices slid amid optimism that the Strait of Hormuz could be reopened, as Iran’s Foreign Minister Abbas Araghchi has proposed to do so as well as restart nuclear talks with the U.S. within seven days if Washington accepts its conditions.
Reuters reported Thursday that the U.S. and Iranian negotiators in New York are considering a phased agreement to end the Middle East conflict.
Meanwhile, traders were monitoring Chinese President Xi Jinping’s visit to the U.S. this week. U.S. Trade Representative Jamieson Greer told the media Friday that “a lot more details” on negotiations between the U.S. and China are going to be released Monday.
Prices for the 10-year Treasury regained lost ground, dropping yields to 5.16% from Thursday’s 5.19%. Treasury prices and yields move in opposite directions.
Oil prices lost $2.18 to $92.43 U.S. a barrel.
Gold prices surged $30.00 to $4,328.00 U.S. an ounce.
