On Friday, the S&P/TSX Composite Index hovered just above the flatline at 29,900, as the market sought to recover some of the approximately 1.2% decline experienced earlier in the week. Investor sentiment improved following remarks by New York Fed President John Williams, who suggested a cautiously dovish approach. He mentioned that while the current policy remains somewhat restrictive, it might require an adjustment towards a more neutral stance in the near future.
Shopify emerged as a standout performer, seeing its shares rise by over 2%. Major financial institutions like RBC, TD Bank, BMO, and Brookfield also saw gains, with increases ranging from 0.7% to 1.3%. However, these advances were largely counterbalanced by losses among commodity producers. Agnico Eagle and Canadian Natural Resources both saw declines of slightly over 1%, as gold and oil prices softened.
In corporate developments, Dye & Durham received a private acquisition offer worth C$272 million from Plantro. Additionally, GFL Environmental faced a secondary offering from shareholders looking to sell their stakes.
