Huge Gains Put TSX At New Peak

(MENAFN- Baystreet)
Equities in Canada's largest centre ascended to a new all-time high Friday, with gold and other resource stocks leading the way.
The TSX leaped 314.92 points, or 1%, end Friday's session at 31,755.77. On the week, the gain was 228 points, or 0.7%,
The Canadian dollar slid 0.1 cents to 72.47 cents U.S.
BlackBerry raised the lower end of its fiscal 2026 revenue forecast on strong demand for its cybersecurity software, while posting third-quarter revenue above analyst estimates. BlackBerry shares shed 85 cents, or 14.1%, to $5.18.
Lundin Mining said it planned to sell its Eagle nickel-copper mine and Humboldt Mill to Talon Metals in a deal worth about $84 million. Lundin shares gained 48 cents, or 1.7%. to $28.30.
Energy Fuels popped $1.56, or 8.1%, to $20.82. after the miner's rare earth oxide qualified for magnet production.
Gold led the parade of winners, with New Gold towering 77 cents, or 6.8%, to $12.24, while Centerra Gold captured 80 cents, or 4.2%, to $20.04.
In materials, Agnico Eagle Mines increased $8.41, or 3.6%, to $240.88, while First Majestic Silver climbed 82 cents, or 3.7%, to $23.08.
In tech stocks, Bitfarms gained 37 cents, or 11.9%, to $3.49. whjle Celestica ballooned $34.35, or 9.2%, to $407.37.
Health-care stocks put a damper on everything, as Curaleaf faded 13 cents, or 1.4%, to $9.53, while Chartwell Retirement Residence lots seven cents to $20.62.
In consumer staples, Canada Packers dipped 32 cents, or 2.1%, to $15.28, while Metro dropped $2.90, or 1.9%, to $97.86.
In real-estate, Boardwalk REIT slid 97 cents, or 1.5%, to $63.89, while FirstService drained $2.95, or 1.4%, to $214.62.
On the economic scene, Statistics Canada said its new housing price index was unchanged in November, in contrast with a 0.4% decrease the month before, while retail sales decreased 0.2% to $69.4 billion in October.
Sales were down in four of nine subsectors, led by decreases at food and beverage retailers.
ON BAYSTREET
The TSX Venture Exchanged prospered 35.9 points, or 3.8%, to 977.98, picking up 22.6 points, or 2.38% on the week.
Eight of the 12 TSX subgroups were positive on the day, with gold better by 3%, information technology ahead 2.6%, and materials up 2.2%.
The four laggards were weighed most by health-care stocks, sagging 1.3%, consumer staples, down 0.7%, and real-estate, off 0.4%.
ON WALLSTREET
U.S. stocks rose on Friday, lifted by Oracle, as the artificial intelligence trade regained its footing after experiencing volatility.
The Dow Jones Industrials ballooned 182.24 points, to close Friday at 48,134.09
The S&P 500 index hiked 59.95 points to 6,834.71.
The NASDAQ spiked 301.26 points, or 0.1%, to 23,278.56.
Oracle shares were up 6.6% after TikTok agreed to sell its U.S. operations to a new joint venture that includes the software giant and private equity investor Silver Lake.
The jump marks a turnaround for the stock, which came under pressure this week after a report revealed that the cloud infrastructure company lost a key backer of one of its data center projects over worries about the company's debt and AI spending levels. That dragged down other stocks linked to AI, including Broadcom and Advanced Micro Devices.
Elsewhere, shares of AI chip darling Nvidia rose about 4% after Reuters, citing sources familiar with the matter, reported that the Trump administration is reviewing the prospect of the company selling its advanced AI chips to China.
Earlier this month, President Donald Trump said that he will allow Nvidia to ship its H200 AI chips to“approved customers” in the country.
Additionally, Micron Technology shares extended their gains from the previous session, rising around 7%.
Nike was among the day's losers, as shares slid 10.5% after the sports apparel giant saw revenue in its Greater China market decline during the fiscal second quarter.
The company is also feeling the pain of tariff increases, noting a hit to its gross margins due to the levies.
Prices for the 10-year Treasury gained ground, lowering yields to 4.15% from Thursday's 4.12%. Treasury prices and yields move in opposite directions.
Oil prices gained 50 cents to $56.65.
Gold prices improved five dollars to $4,369.50.

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