@ the Bell: TSX rallies as trade tensions ease
Canada's main stock index rallied on Friday, tracking gains in global equities as signs of potential trade talks between the US and China lifted investor mood.
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Beijing said it was 'evaluating' an offer from Washington to hold talks over US President Donald Trump's 145 per cent tariffs on China, signaling that trade tensions between the world's two largest economies were easing. But China added that Washington needed to show 'sincerity' in negotiations and should be prepared to cancel its unilateral tariffs.
Trump's wavering tariffs have kept investors on the edge over the last few months, as they upended supply chains and forced some companies to pull earnings forecasts. In a week where we found out that during his first 100 days in office this time around, the economy shrank, all three major US averages scored their second winning week in a row.
The Canadian dollar traded for 72.48 cents US compared to 72.25 cents US on Thursday.
US crude futures traded US$1.01 lower at US$58.23 a barrel, and the Brent contract lost $0.85 to US$61.28 a barrel.
The price of gold was up US$10.97 to US$3,228.46.
In world markets, the Nikkei was up 378.39 points to ¥36,830.69, the Hang Seng was up 385.27 points to HK$22,504.68, the FTSE was up 99.55 points to ₤8,596.35, and the DAX was up 589.67 points to €23,086.65.
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