TSX Bounces Back Amid Global Market Turmoil
Canada's main stock index rose on Friday, driven by gains in technology and consumer discretionary shares. The TSX gained 108.47 points to close at 35,301.13. The Canadian dollar slipped 0.03 cents to 70.97 U.S. dollars.
Oil prices fell, but remain on track for weekly gains due to concerns about disrupted energy flows in the Red Sea and escalating tensions between the US and Iran. Earlier this week, Trump imposed a 50% tariff on various Canadian imports, but aims to finalize interim trade deals with Canada and Mexico by the end of 2026.
Statistics Canada reported that its Industrial Product Price Index dropped 1.4% month-over-month in June and rose 12.4% year-over-year. The Raw Materials Price Index decreased 6.9% month-over-month but increased 20.7% year-over-year. New housing prices declined 0.1% in June, compared to a 0.3% loss in May.
On the TSX Venture Exchange, shares dropped 3.2 points to 870.89. All but three of the 12 subgroups were positive, with real estate rising 0.9%. Financials and consumer discretionary stocks also jumped 0.5%, while industrials slipped 0.03%.