After experiencing several days of subdued trading, Canada’s main stock index saw a significant rally on Friday, driven by strong performances in heavyweight markets. The focus of the market remained on the escalating conflict in the Middle East, leading to a surge in energy shares on the TSX, as well as gains in the mining, financial, and technology sectors.
In the U.S., stock markets also rose as traders reacted positively to the September jobs data, which revealed a growth of 254,000 nonfarm payrolls last month. This result far exceeded the expected gain of 150,000 as forecasted by Dow Jones economists. The unemployment rate also saw a decline to 4.1%, contrary to expectations of it remaining steady at 4.2%.
The Canadian dollar was trading at 73.67 cents U.S. compared to 73.75 cents U.S. the previous day.
Meanwhile, U.S. crude futures rose by $0.71 to $74.42 a barrel, while the Brent contract increased by $0.43 to $78.05 a barrel. Gold prices experienced a slight dip, down US$4.29 to US$2,651.45.
In global markets, the Nikkei rose by 83.56 points to 38,635.62, the Hang Seng increased by 623.36 points to 22,736.87, the FTSE saw a slight drop of 1.89 points to 8,280.63, and the DAX surged by 105.52 points to 19,120.93.
It is important to note that the information provided in this article is for informational purposes only and should not be considered as investment advice. For a full disclaimer, please refer to the provided link.
The source of this article “The Bell: TSX surges to end the week” was originally published on The Market Online Canada.
