The S&P/TSX Composite Index advanced more than 0.5% to trade just below the 36,000 mark on Friday, rebounding from earlier losses on the back of strength in mining stocks. Sentiment was supported by political developments in the United States, where Democrats regained control of both chambers of Congress, boosting expectations of easing trade frictions amid hopes that a Democratic majority could curb some of President Trump’s trade policy initiatives.
On the domestic front, Canada’s trade surplus widened to C$5.35 billion in September, as stronger energy and gold exports to the US appeared to offset the effects of tariffs. Among miners, Agnico Eagle and Franco-Nevada each gained roughly 1%, while Wheaton Precious Metals (WPM) climbed nearly 2% after posting record nine‑month results on Thursday, with third‑quarter revenue surging 62%.
Performance across broader sectors was mixed as investors weighed softer‑than‑expected labour market data. Canadian employment declined by 4,700 in October, an improvement from September’s 68,300 drop but below consensus expectations for a 13,600 increase. For the week, the benchmark index is on track to finish more than 1% higher.