FX.co ★ TSX Ticks Lower, But Ends Week with Gains

The S&P/TSX Composite Index declined by 0.4%, closing below the 25,000 threshold on Friday, as mining stocks dragged on the market. Investors continued to assess domestic growth risks amidst persistent trade tensions with the United States. The Bank of Canada emphasized the growing uncertainty in its economic outlook, driven by the unpredictability of U.S. tariff threats. Such threats could affect prices for Canadian businesses and consumers, thereby reducing demand for riskier assets in the Toronto market. There was a slight rebound in stocks after President Trump indicated a possible "flexibility" in his reciprocal tariff plan, although he opposed exceptions for the impending duties. Political uncertainty heightened with the possibility of Prime Minister elections next month following PM Trudeau's resignation. Precious metal mining companies were notably affected as gold prices retreated from record highs, resulting in a 2.3% drop for Barrick. Throughout the week, the Canadian benchmark saw an over 1% increase.