23.05.202520:05:45UTC+00TSX Edges Higher Amid Trade Jitters

On Friday, the S&P/TSX Composite Index edged up by 0.1%, closing at 25,879, as it rebounded from earlier declines. Investors were navigating the impact of trade uncertainties and potential interest rate adjustments. Concerns over protectionism and global economic growth were reignited following US President Trump's pronouncements on imposing new tariffs on EU and Apple products. On the domestic front, robust retail sales for the second consecutive month, coupled with recent strong inflation figures, bolstered expectations that the Bank of Canada might maintain its current interest rates in the upcoming meeting. Gains were predominantly seen in the energy and materials sectors, with Enbridge and Canadian Natural Resources each advancing over 1%. Conversely, the financial sector lagged, marked by declines in Brookfield (-1%) and BMO (-0.6%). Notably, Cameco surged 10% amid speculation regarding potential US initiatives to support nuclear energy. Over the week, the TSX recorded a modest 0.1% increase, having hit a record high on Tuesday.