FX.co ★ TSX Struggles for Direction

On Friday, the S&P/TSX Composite Index in Canada slightly dipped to 27,920 points, as market participants shifted their attention to the anticipated high-level US–Russia talks aimed at discussing a potential resolution to the Ukraine conflict. Concurrently, investors analyzed a slew of domestic economic data. The mining sector, including prominent players like Agnico Eagle and Wheaton Precious, experienced declines exceeding 0.5%. Additionally, Shopify, a major market entity, saw a decrease of about 0.5%. In contrast, Constellation Software, a leading software company, posted a gain of just over 2%, while Thomson Reuters increased by nearly 1%. On the economic front, manufacturing sales climbed by 0.3% and wholesale sales rose by 0.7% to reach C$84.7 billion, indicating pockets of strength that helped mitigate larger losses. For the entire week, the Toronto Stock Exchange was set to close with a modest gain of approximately 0.6%.