CANADA STOCKS-TSX scores biggest gain since August in relief rally
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TSX ends up 1.45% at 24,553.40
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For the week, the index loses 0.83%
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Technology rises 2.8%
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Financials end 1.9% higher
(Updates at market close)
By
On Thursday, the TSX posted its lowest closing level in four and a half months. For the week, it was down 0.83%.
U.S. equities also rebounded after a turbulent week marked by a broad selloff as investors assessed the economic fallout of the Trump administration's chaotic trade policies.
"We are seeing a relief rally in the markets today," said
"However, a better characterization for this might be a dead-cat bounce. There hasn't been any positive news to turn sentiment."
Carney, an ex-central banker, reshaped his cabinet with a
view to dealing with
"We still believe the Canadian index can continue to outperform its U.S. counterpart as we view the TSX companies as more attractive from a valuation perspective and less sensitive to tariffs," Petursson said.
The TSX has fallen 0.71% since the beginning of the year compared to a 4.13% decline for the S&P 500.
All ten major sectors notched gains on Friday, with the technology sector climbing 2.8%, financials up 1.9% and energy adding 1.6%.
The price of oil settled nearly 1% higher at
The materials group, which includes metal mining shares, advanced 1%.
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