The S&P/TSX Composite Index slipped 0.3% to close at 34,857 on Friday, as investors reacted to the suspension of US-Iran talks. The negotiations—intended to address Iran’s nuclear program following a recently signed memorandum of understanding—were delayed, while the Federal Reserve’s unexpectedly hawkish stance earlier in the week continued to dampen sentiment.
Financials were mixed, with RBC declining 0.4% and TD Bank advancing 0.4%. Brookfield inched higher amid reports it is the leading contender to acquire a controlling stake in XpFibre. Mining stocks retreated as gold prices extended their losses, with WPM down 4.8%, Agnico Eagle off 2%, and Barrick lower by 1.6%. Energy names were also mixed amid uncertainty surrounding US-Iran diplomacy: Canadian Natural gained 1.2%, while Imperial Oil slipped 0.6%.
