FX.co ★ TSX Hits Record High on Gold Rally

The S&P/TSX Composite Index rose 0.9% on Friday to close at a record high of 35,275, driven primarily by gains in gold miners after weaker-than-expected U.S. employment data lifted expectations for a more dovish Federal Reserve. Gold prices advanced as U.S. nonfarm payrolls for June increased by roughly half the anticipated level. Agnico Eagle climbed 2.7%, while Wheaton Precious Metals (WPM) and Barrick Gold added 2.6% and 2.4%, respectively.

In corporate news, BHP Group agreed to transfer its San Manuel property in Arizona to Faraday Copper, whose shares rose 1.1%, in exchange for a 30% equity stake in the Canadian miner. Faraday is aiming to build a copper hub centered on its adjacent Copper Creek project.

Oil prices held near pre-conflict levels amid optimism surrounding U.S.–Iran peace efforts, easing worries about energy-driven inflation and lending support to financial stocks. Bank of Nova Scotia (Scotiabank) gained 1%, while Brookfield advanced 1.1%.

Separately, AtkinsRéalis surged 3.6% after indicating that Turkey could begin formal negotiations on a CANDU nuclear power plant, following an initial reactor review expected later this summer.