21.11.202521:10:43UTC+00TSX Trims Weekly Losses on Friday

The S&P/TSX Composite Index experienced a gain of 0.9%, closing at 30,161 on Friday. This uptick helped reduce the week's overall decline to 0.6%, as investors reevaluated concerns related to significant AI expenditures. Market participants were reassured by a cautiously dovish statement from John Williams, President of the Federal Reserve Bank of New York, who suggested that monetary policy continues to be somewhat restrictive but might approach neutrality with forthcoming adjustments. Shopify was at the forefront of this positive shift, rising by 2.1%. Additionally, key financial institutions like RBC, TD, BMO, and Brookfield saw increases ranging from 0.9% to 2.3%. However, the advancement was somewhat curbed by energy sector players such as Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus, which experienced declines between 0.7% and 1.7% due to a drop in oil prices. In corporate developments, Dye & Durham received a private acquisition proposal from Plantro worth CAD 272 million, while GFL Environmental announced a secondary offering involving shares from existing shareholders.