27.02.202614:50:58UTC+00TSX Eases From Record High

Canada’s S&P/TSX Composite Index fell about 0.4% on Friday, slipping below the 34,500 mark and pulling back from its recent record high, after an unexpected economic contraction unnerved investors. Statistics Canada reported that GDP declined at an annualized rate of 0.6% in the fourth quarter, versus expectations for flat growth, marking the weakest annual pace of expansion since 2016.

The volatility was driven largely by a steep C$23.5 billion inventory drawdown and uneven export activity linked to US trade policies. Tech names were under pressure, with Shopify dropping more than 3%, in line with a broader pullback in AI infrastructure-related stocks.

In corporate developments, Bombardier CEO Éric Martel pointed to strong growth opportunities in India as the country proceeds with plans to build a dozen new airports. Separately, Fairfax Financial continued to be viewed as a leading contender to acquire a majority stake in India’s IDBI Bank.

Offsetting some of the index’s losses, energy stocks advanced alongside higher oil prices, with Canadian Natural Resources gaining 1.4%. Gold miners such as Agnico Eagle also moved higher, tracking bullion’s climb to a two-month high.