TSX Finishes Week in the Green

The S&P/TSX Composite Index edged up by 0.3% on Friday, closing at 30,261. This rise was fueled by the strength of U.S. technology stocks and a series of robust corporate earnings reports. Constellation Software marked a significant increase, advancing by 2.9%. Celestica saw a 1.5% rise after upgrading its outlook, while Shopify appreciated by 0.5%, buoyed by encouraging guidance from major tech companies. Additionally, Canadian National Railway surged 3% following better-than-anticipated results. However, these gains were somewhat limited by declining commodity prices, as gold and copper retreated due to a stronger U.S. dollar, and oil prices dipped on weak Chinese economic data and increasing global production, which countered the impact of Western sanctions on Russian exports. In terms of trade relations, Prime Minister Mark Carney engaged in discussions with Chinese President Xi Jinping aimed at rekindling economic ties and setting a target to double non-U.S. exports over the next ten years. For the week, the Toronto Stock Exchange experienced a slight decline of 0.3%.

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