Canada's main stock index hit an all-time high on Friday and was on track for a weekly gain as technology shares advanced, while investors watched for signs of a breakthrough in talks to end the nearly three-month-long Middle East conflict.
The TSX Composite Index progressed 15.39 points to reach noon EDT Friday at 34,424.88. On the week so far, the index has climbed 591 points, or 1.7%.
The Canadian dollar dipped 0.23 cents to 72.36 cents U.S.
Technology shares led gains on the index, rising 1.1%. BlackBerry surged $1.22, or 13.2%, to $10.40, while CGI Inc sailed $1.14, or 1.3%, to $82.01, and Lightspeed was up 29 cents, or 2.5% to $11.82.
Meanwhile, Perpetua Resources fell $1.27, or 3.5%, to $35.55, after the antimony and gold miner said the Export-Import Bank of the United States has approved a $2.9-billion loan to support the development of ?its Stibnite Gold Project in Idaho.
CAE gains came after the simulation and training provider released its fourth-quarter results.
U.S. Secretary of State Marco Rubio on Thursday said there have been "some good signs" in negotiations to end the U.S.-Israel war against Iran, though differences remained over Tehran's uranium stockpile and control of the key Strait of Hormuz.
ON BAYSTREET
The TSX Venture Exchange moved lower 2.68 points to 975.29. On the week, the index has lost 13.5 points, or 1.4%,
Seven of the 12 TSX subgroups were positive by noon, led by information technology, ahead 1.2%, while telecoms ticked 0.8% higher, and energy stocks picked up 0.2%.
The five laggards were weighed by gold, sliding 1.4%, materials, off 1.1%, and health-care, ailing 0.6%.
ON WALLSTREET
Stocks rose broadly Friday as Treasury yields eased, leaving Wall Street set to cap off a winning week despite heightened volatility.
The Dow Jones Industrials barreled ahead 409.29 points to 50,694.95, reaching an intraday all-time high.
The S&P 500 climbed 47.86 points to 7,493.41.
The NASDAQ took on 168.67 points to 26,461,76.
The S&P 500 is up 1.1% week to date, on track for its eighth straight weekly gain. That would be its longest since a nine-week winning streak that ended in late 2023.
The Dow has climbed 2.2% this week and is headed for its third positive week in four. The NASDAQ has added 0.8%, on pace for its seventh weekly advance in the past eight weeks.
Shares of Merck were up $5.77, or 5%, to $121.64, on news that its lung cancer treatment with China-based Kelun-Biotech cut tumor progression risk by 65%.
Sacituzumab tirumotecan, the drug, also yielded a survival benefit.
The phase 3 study was conducted in China. The drug was used on patients in combination with Merck’s Keytruda, the company’s immunotherapy used to treat a wide variety of cancers.
Prices for the 10-year Treasury faded a bit, raising yields to Wednesday’s 4.57%. Treasury prices and yields move in opposite directions.
Oil prices muscled up $1.09 to $97.12 U.S. a barrel.
Gold prices dropped $20.80 to $4,521.70 U.S. an ounce.
