The Canadian market edged modestly higher by early afternoon on Friday, as equities displayed a mixed performance amid cautious trading. Investors are processing the latest economic indicators from both Canada and the United States while monitoring ongoing geopolitical developments.
The S&P/TSX Composite Index, which had earlier fallen to 25,360.12, recorded an increase of 55.99 points, or 0.22%, bringing it to 25,446.67 shortly after midday.
Aya Gold & Silver's shares experienced a nearly 7% rise. Meanwhile, ATS Corporation, Softchoice Corporation, Endeavour Mining, ATCO Ltd., and Magna International exhibited gains ranging from 2% to 4%.
Stocks advancing between 1% to 1.8% included RB Global Inc, Canadian Pacific Kansas City, Canadian Natural Resources, Capital Power Corporation, Gildan Activewear, Dayforce, Brookfield Corporation, Linamar Corporation, CCL Industries, and BRP Inc.
On the downside, Quebecor Inc, Celestica Inc, Capstone Copper, Source Energy Services, Energy Fuels Inc, Brookfield Renewable Corporation, CAE Inc, Cameco Corporation, Ivanhoe Mines, and Ero Copper witnessed declines of 2% to 4.5%.
Economically, Canadian retail sales are anticipated to have increased by 0.7% from the previous month in October, according to preliminary estimates. Retail sales had risen by 0.8% year-over-year in September, following a 1.4% rise the previous month.
Statistics Canada reported a 0.4% decrease in new home prices in October, following two months of stability. On an annual basis, new home prices declined by 0.2% in October, contrasting with a 0.2% increase in the prior month.
In the U.S., updated data from the University of Michigan revealed that consumer sentiment improved less than initially anticipated in November. The revised consumer sentiment index for November was adjusted down to 71.8 from the preliminary figure of 73.0.
