Canada’s main stock market, the TSX, closed higher on Friday, gaining about half a percent despite weak manufacturing numbers.
Overall market move
The S&P/TSX Composite Index rose 170.61 points, ending the day at 31,883.37. This bounced back after four straight days of falls. Over the past week the index slipped 0.4%.
Sector highlights
- Energy led the gains, up 1.8% even though oil prices fell slightly.
- Technology was the only major sector that fell, dropping about 1%.
- Industrials added 0.7%, financials rose 0.6%, and materials (including metal miners) were up 0.2% as gold prices climbed.
Top stock movers
- Denison Mines jumped 13.7% after the uranium miner announced it was ready to start its flagship Phoenix ISR project.
- Energy Fuels rose 15.4% following the same uranium news.
- Capstone Copper fell 1.5% after a strike began at its Mantoverde mine in Chile.
Economic backdrop
Canada’s manufacturing sector shrank for the 11th month in a row in December, reflecting trade uncertainties and lower output. Analysts say AI will keep driving market themes, but opportunities are opening up beyond tech.
What this means for investors
Energy and uranium stocks showed strong upside, suggesting they could be worth watching. Meanwhile, technology stocks faced pressure, and the ongoing manufacturing slowdown adds a note of caution.
Disclaimer
Remember, this is my perspective, not a prediction. Do your own research before making any investment decisions.