S&P/TSX falls nearly 0.5% below 36,000 as oil prices rise

  • S&P/TSX Composite Index fell nearly 0.5% below 36,000 on Friday.
  • RBC and Manulife fell about 0.5%, while Great-West Lifeco declined 1%.
  • Technology stocks mostly gained as miners retreated after Thursday’s sharp advance.

The S&P/TSX Composite Index fell nearly 0.5% to trade below 36,000 on Friday as oil prices rose amid continuing supply concerns. Reports said Saudi Arabia was offering additional crude through Oman, while US President Trump raised the possibility of renewed US attacks against Iran after dialogue involving Tehran, Washington and GCC (Gulf Cooperation Council) states failed to restore maritime oil exports. Higher Canadian bond yields, reflecting persistent energy-driven inflation concerns, pressured credit-sensitive stocks. RBC and Manulife each fell about 0.5%, while Great-West Lifeco declined 1%. Miners retreated after a sharp gain Thursday despite slightly higher gold prices, with Agnico Eagle and Barrick down about 1% each and Franco-Nevada and WPM off more than 0.5%. Technology stocks were mostly higher, led by Celestica, which gained more than 2%, while Shopify edged higher alongside gains among Wall Street chipmakers.

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