TORONTO: Canada’s main stock index edged lower on Friday but still notched its fourth straight weekly gain as bigger-than-expected US and Canadian jobs gains bolstered prospects of a soft economic landing.
The Toronto Stock Exchange’s S&P/TSX composite index ended down 57.03 points, or 0.3%, at 21,737.53, after posting on Thursday its highest closing level in nearly two years.
For the week, the index was up 0.9%. The weekly winning steak was the longest since April 2023.
“The US still seems very much on course for a soft landing. In Canada, it’s a little bit more nuanced I think, but by all indications the market is holding up relatively well,” said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.
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