Toronto stock market ends higher as metal prices climb
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab ended up 47.43 points, or 0.2%, at 27,364.43, stopping just short of Thursday's record closing high.
"The market keeps climbing this wall of worry," said Greg Taylor, chief investment officer at PenderFund Capital Management.
"This is a big few weeks coming up for us as we hit these tariff deadlines again and also the earnings season coming on. I think earnings are going to be super-important and just hearing some guidance around the tariffs is going to be a real key."
Canada will use all the time that is available to strike a trade deal with the United States, Prime Minister Mark Carney told reporters. U.S. President Donald Trump has said the U.S. would impose a 35% tariff on Canadian goods from August 1.
Railroad company Canadian National Railway Co. (CNR.TO), opens new tab was due to report after the close.
The materials sector (.GSPTTMT), opens new tab gained 2.5% as gold and copper prices climbed.
Energy (.SPTTEN), opens new tab also ended higher, rising 0.7%, even as the price of oil settled 1.5% lower at $66.21 a barrel.
Technology (.SPTTTK), opens new tab was a drag, falling 1.8%, with e-commerce company Shopify Inc (SHOP.TO), opens new tab down 4.2%.
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