For the month, The Index Gains 5.4%
First-Quarter GDP Increases 2.2%
May 30 – Canada’s Main Stock Index Edged Lower on Friday as Energy and Metal Mining Shares Lost Ground, but the Index Still posted its bigest monthly advance mind Trade tensions.
The Toronto Stock Exchange’s S & P/TSX Composite Index Ended Down 35.51 points, or 0.1%, at 26,175.05, its second straight day of declines after posting a record closing Wednsday. For May, The Index was up 5.4%.
“I wouldn’t be surprised to see some consolidation after a big run, but intermediate-term the path of least resistance is up,” said joseph abramson, co-co-chiff Investment offix AT Nurtle Management. “I think that political risk has peaked in terms of tarifs.”
The us has suspended in recent weeks some of the sweeping tarifs it has imposed on goods from other counts, while canada’s even has fare has fareded between Economists Had Expected.
Canadian Gross Domestic Product Increased at Annualized Rate of 2.2% in the first Quarter, Beating Estimates for a Gain of 1.7%.
The energy sector fell 1.8% on Friday as the price of oil Lake Production Facility in Northern Alberta Due to Wildfires Burning in the Area. The company’s shares ended 2.8% lower.
The Materials Group, Which Includes Metal Mining Shares, also Lost Ground as the Price of Gold Dipped.
Heavily Weighted Financials Added 0.2%, and Were Up 1.3% for the week in which canada’s biggest banks reported Quarterly Earnings.
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