Canada’s main stock index finished Friday higher, wrapping up a week where it hit a new record high on the back of gains in the tech sector, while the energy market slid on the falling oil and gas prices as the US and Iran reached a ceasefire extension deal pending final approval of the US President.
Recent market gains have also been supported by optimism that the Iran war—now entering its third month—may soon come to an end. Asset prices, however, remain vulnerable to any shifts in the conflict as we move into next week. Investors will also be watching for a key update on the labour market.
Statistics Canada reported that the economy showed no growth in the first quarter, marking a second straight drop in real GDP. That outcome fits some definitions of a technical recession.
| TSX | 34,769.14 | +251.44 |  |
| TSXV | 1,011.51 | +4.65 | |
| CSE | 181.07 | -1.02 |  |
| DJIA | 51,032.46 | +363.49 | |
| NASDAQ | 26,972.62 | +55.15 | |
| S&P 500 | 7,580.06 | +16.43 | |
The Canadian dollar traded for 72.49 cents US compared to 72.55 cents US on Thursday.
US crude futures traded US$1.02 lower at US$87.88 a barrel, and the Brent contract lost $0.96 to US$91.74 a barrel.
The price of gold was up US$41.08 to US$4,542.98.
In world markets, the Nikkei was up 1,636.38 points to ¥66,329.50, the Hang Seng was up 176.23 points to HK$25,182.39, the FTSE was down 16.68 points to ₤10,409.28, and the DAX was up 12.45 points to €25,104.70.
