FX.co ★ Canadian Stocks Start Year Higher

The S&P/TSX Composite Index rose by 0.5% to close at 31,883 on Friday, marking the first trading session of the year. This performance surpassed that of its US counterpart, largely due to the strength in the financial services and energy sectors. In the oil sector, heavyweights such as Imperial, Suncor, and Cenovus witnessed gains of over 2%. Within banking and asset management, Brookfield Asset Management saw an increase of 2%. Notably, Cameco experienced a significant uptick of more than 7%, bolstered by robust conditions in the uranium market. Conversely, Capstone Copper's share price declined by 1.5% following announcements of an impending strike by a union that represents roughly half of the workforce at its Mantoverde copper and gold mine in Chile.