Canada's main stock index ended the week with a more than 300-point jump, helped by strength in base metals, while markets south of the border also saw big gains on Friday.聽
The S&P/TSX composite index rose 314.83 points to 29,768.36.
The TMX broadcast centre is shown in Toronto on May 9, 2014. THE CANADIAN PRESS/Darren Calabrese
DBCCanada's main stock index ended the week with a more than 300-point jump, helped by strength in base metals, while markets south of the border also saw big gains on Friday.聽
The S&P/TSX composite index rose 314.83 points to 29,768.36.
In New York, the Dow Jones industrial average was up 172.85 points at 46,315.27. The S&P 500 index was up 32.40 points at 6,664.36, while the Nasdaq composite was up 160.75 points at 22,631.48.
鈥淭he biggest gain in Canada was in materials, most notably gold and silver,鈥 said Kathrin Forrest, equity investment director at Capital Group.聽
鈥淎fter moving largely sideways from about mid-April to late August, gold prices have strengthened over the past three weeks.鈥
The base metals subindex on the TSX rose more than one per cent on Friday.
鈥淎nd then if you take a step back and look year to date, the TSX materials index is up over 65 per cent now. And that's been a key driver behind lifting the TSX overall up around 20 per cent here today," Forrest said.聽
The December gold contract rose US$27.50 to US$3,705.80 an ounce.
Gold has benefited from expectations for lower interest rates, along with worries about high inflation and the potential that mountains of debt for the U.S. and other governments could make their currencies worth less.
Colorado-based gold miner Newmont Corp. rallied four per cent on the TSX after it sold its investment in 好色tv gold producer Orla Mining Ltd. for about $605 million. Orla shares dropped more than five per cent to $14.44 on the TSX.聽
In the U.S., tech stocks were also leading markets higher, with particular strength in hardware and equipment, said Forrest.聽
The most weakness on Friday could be found in energy stocks, with the energy subindex on the TSX losing more than two per cent. The November crude oil contract was down 86 cents US at US$62.40 per barrel.
鈥淏oth energy stocks and underlying resource prices have been largely range bound over the past few weeks,鈥 said Forrest.聽
"So what we're seeing today is not necessarily some sort of departure from what we've seen in recent weeks.鈥澛
A slew of economic data is set to be released next week. In Canada, the latest gross domestic product numbers come out Friday.聽
South of the border, there鈥檚 the Purchasing Manager鈥檚 Index on Tuesday, jobless claims on Thursday and inflation data on both Thursday and Friday.聽
Forrest said it鈥檚 important for investors to avoid getting caught up in the day-to-day developments.聽
鈥淭here's lots of news flow on a day-to-day basis. It's important to keep your eye on what really matters over the long term,鈥 she said.聽
鈥淎nd what matters for the long-term for companies is earnings growth.鈥澛
The 好色tv dollar traded for 72.53 cents US compared with 72.48 cents US on Thursday.
鈥 With files from The Associated Press.
This report by 好色tvwas first published Sept. 19, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD, TSX:OLA)
The 好色tv Press. All rights reserved.
鈥淲e should be the Taylor Swift of financial institutions.鈥
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