17.04.202520:03:12UTC+00TSX Lifted by the Energy Sector

The S&P/TSX Composite Index advanced by 0.4%, concluding the day at 24,193 on Thursday, driven by robust performances in the energy sector. This upswing occurred amidst ongoing uncertainty surrounding trade policies, which maintained a cautious sentiment across the broader market. Notably, Canadian Natural, Suncor, Imperial Oil, and Cenovus led the growth, with their shares rising between 2% and 3.7%. This increase aligned with a surge in crude oil prices following new U.S. sanctions targeting Iranian oil exports, heightening concerns about a potential tightening of global supply. At the same time, ambiguity lingered regarding possible U.S. tariffs on copper, semiconductors, pharmaceuticals, and lumber, with no official announcements ahead of the expected trade discussions with Japan. Market sentiment was also unsettled by President Trump's remarks criticizing Federal Reserve Chair Jerome Powell, subsequent to Powell's cautionary statement that tariffs could hinder economic growth and reignite inflation. Nonetheless, the index wrapped up the holiday-shortened week with a gain of 2.5%, achieving a strong weekly performance despite facing geopolitical challenges.