Canada’s main stock index fell on Friday, weighed by losses in technology and mining shares as traders returned after Christmas break, even as the index was on track to record its best year since 2021.
The Toronto Stock Exchange’s S&P/TSX composite index was down 50.42 points, or 0.20%, at 24,796.40.
The index has gained 18.1% so far this year, with two more trading sessions left in the coming week.
The Canadian markets have benefited from policy easing cycles at home and in the United States, as well as a rally fueled by Donald Trump’s victory in the November U.S. presidential election.
However, Canadian equities have faced a rough few weeks in December, partly due to the U.S. Federal Reserve’s forecast of fewer rate cuts next year due to stubbornly high inflation.
Looking to 2025, the focus will shift to Donald Trump’s arrival in the White House after having pledged to impose a 25% tariff on all imports from Canada, a blow to…
