FX.co ★ TSX Up for 4th Week

The S&P/TSX Composite Index experienced a notable rise of over 0.8% on Friday, closing above the significant 25,000 mark and securing its fourth consecutive weekly gain. This positive movement was largely attributed to diminishing trade tensions between the US and China, coupled with a robust US jobs report that buoyed investor confidence. The industrial sector played a pivotal role in driving the rally. Investor optimism was further bolstered by signals from Beijing indicating a readiness to re-engage in trade discussions, contingent upon the US alleviating tariff pressures, alleviating worries over prolonged trade disputes. On the corporate front, Magna International faced challenges, slipping by 5.6% after failing to meet earnings expectations with an adjusted first-quarter EPS of $0.78, and announcing cost-reduction strategies in response to US tariff impacts. Conversely, Bombardier reported strong performance, with a 4.1% increase and a notable 19% rise in first-quarter revenue to $1.5 billion, fueled by a surge in aircraft deliveries and expansion in its services sector. The company also reinstated its full-year forecast, anticipating 2025 revenues to exceed $9.25 billion.