The S&P/TSX Composite Index rose 0.3% to close at 35,801 on Friday, trimming earlier losses as easing oil prices helped halt the recent surge in global bond yields. Crude and fuel prices retreated after reports that the US and Iran had made progress toward an agreement to lift naval blockades on tankers in the Persian Gulf and to relax certain economic sanctions on Tehran. Benchmark borrowing costs also pulled back after touching multi-year highs on Thursday.
Financials advanced, with major banks finishing higher: RBC and TD Bank each gained 1.2%, BMO added 0.8%, Scotiabank rose 1.5%, and CIBC climbed 2%. Mining stocks were mixed. Gold prices rose on the day but still logged a weekly decline. Barrick advanced 1.5%, while Kinross rebounded 2.8% after slumping more than 10% on Thursday, when the company cut its production outlook for 2026 and 2027. In contrast, WPM and Franco-Nevada each slipped 0.7%.
Energy heavyweights weakened in response to lower oil prices. Overall, the index finished the week little changed.
