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The S&P/TSX Composite Index rose 0.8% to close at 34,938 on Friday, supported by renewed optimism over US-Iran diplomacy. Reports suggested a potential US-Iran memorandum could be signed as early as Sunday. Easing oil prices helped temper inflation concerns and lowered expectations for further monetary tightening, bolstering financials and the broader market. TD Bank gained 1.1%, and BMO advanced 1.2%. Mining shares also moved higher despite softer gold prices, with Agnico Eagle up 3.4%, Barrick gaining 3.3%, and WPM climbing 3.5%. Technology stocks were mixed following SpaceX’s market debut: Shopify slipped 1.8%, while Celestica advanced as investor enthusiasm for AI-related names remained strong.
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