The S&P/TSX Composite Index gained 0.3% to close at 35,801 on Friday, recovering from earlier losses as falling oil prices eased pressure from the recent rise in global yields. Oil and fuel prices declined after reports that the U.S. and Iran had moved closer to an agreement to lift naval blockades on tankers in the Persian Gulf and reduce economic measures against Tehran. Benchmark borrowing costs also retreated after reaching multi-year highs on Thursday. Major Canadian banks finished higher, led by CIBC’s 2% gain and followed by Scotiabank at 1.5%, RBC and TD Bank at 1.2% each, and BMO at 0.8%. Mining shares were mixed as gold prices rose during the session but recorded a weekly decline. Barrick advanced 1.5% and Kinross climbed 2.8%, rebounding from a more than 10% drop on Thursday after issuing a lower production outlook for 2026 and 2027. WPM and Franco-Nevada each fell 0.7%. Energy heavyweights declined alongside crude prices, leaving the index nearly unchanged for the week.