Canada’s main stock index closed higher on Friday, as investors paused after the previous day’s strong rally in mining shares. Oil prices also advanced, driven by renewed concerns that the United States might take military action against Iran.
In the US, markets were mixed and continued to struggle for momentum after President Donald Trump withdrew his planned tariffs on imports from eight European countries, which were set to take effect on Feb. 1. The reversal followed Trump’s announcement that he and NATO Secretary General Mark Rutte had reached a “framework for a future deal regarding Greenland.” Trump had also said on Wednesday that “we have a concept of a deal” involving the Arctic territory. However, Greenland’s Prime Minister Jens-Frederik Nielsen said on Thursday that he was unaware of the contents of the “framework” mentioned by Trump, emphasizing that any agreement must protect Greenland’s sovereignty and territorial integrity. Meanwhile, silver prices surged past US$100 per ounce.
| TSX | 33,144.98 | +142.28 |  |
| TSXV | 1,154.15 | +19.96 | |
| CSE | 187.36 | +2.73 | |
| DJIA | 49,098.71 | -285.30 |  |
| NASDAQ | 23,501.24 | +65.22 | |
| S&P 500 | 6,915.61 | +2.26 | |
The Canadian dollar traded for 72.87 cents US compared to 72.52 cents US on Thursday.
US crude futures traded US$1.81 higher at US$61.17 a barrel, and the Brent contract rose US$1.84 to US$66.00 a barrel.
The price of gold was up US$71.06 to US$4,978.13.
In world markets, the Nikkei was up 157.98 points to ¥53,846.87, the Hang Seng was up 119.55 points to HK$26,749.51, the FTSE was down 6.61 points to ₤10,143.44, and the DAX was up 44.24 points to €24,900.71.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.