Equities in Canada’s largest centre closed the week pretty much the way they entered the Friday Session, mostly as gold stocks enjoyed tremendous success.

The S&P/TSX Composite finished in the green 17.12 points to conclude Friday, at 21,548.84. On the week, the change amounted to 312 points to the good, or 1.47%.

The Canadian dollar backed off 0.05 cents at 78.49 cents U.S.

Consumer stocks weighed on the markets, as Canada Goose took it on the chin $2.32, or 6.3%, to $34.18, while Magna International lost $6.47, or 6.3%, to $96.58.

Among techs, Lightspeed POS dipped $3.24, or 7.9%, to $37.82, while HUT 8 Mining shed 65 cents, or 6.8%, to $9.08.

Industrials also fared badly, as WSP Global fell $8.43, or 5%, to $161.00, and GFL Environmental retreated $1.76, or 4.3%, to $39.47.

Gold stocks led the charge upward, as Eldorado Gold jumped 96 cents, or 8.1%, to $12.78, while Iamgold added 32 cents, or 9.6%, to $3.67.

Energy stocks also muscled up, with Vermilion popping $1.67, or 8.2%, to $22.29, while Baytex Energy moved 27 cents, or 5.7%, higher, to $5.20.

In materials, Fortuna Silver bettered itself 30 cents, or 7%, to $4.58, while Silvercrest Metals leaped 91 cents, or 9.4%, to $10.57.

Canada will seek to join the United Kingdom, the U.S. and Australia to be included in consultations as part of the European Union’s dispute with China at the World Trade Organization over Beijing’s alleged trade curbs on Lithuania.


The TSX Venture Exchange docked 4.11 points to 868.77, still enjoying a weekly of 14 points, or 1.67%.

Seven of the 12 TSX subgroups finished in minus territory, as consumer discretionary stocks sagged 3.1%, information technology lost 2.8%, and indusrials settled 1.5%,

The five gainers were led by gold, skyrocketing 6.6%, energy, rumbling 3.6% higher, and materials, up 3.5%.


Stocks slid on Friday as increased tensions between Ukraine and Russia sent oil spiking and led investors to dump risky assets like equities.

The Dow Jones Industrials collapsed 503.53 points, or 1.4%, to 34,378.06, for a loss of more than 2% on the week.

The S&P 500 slipped 85.44 points, or 1.9%, to 4,418.64, dropping 1.8% over the last five sessions.

The NASDAQ fell 394.49 points, or 2.8%, to 13,791.15, or nearly 2.2% on the week.

Stocks moved sharply lower in afternoon trading after a jump in oil prices that appeared to be tied to increased concerns about Russia taking military action against Ukraine.

Some defense stocks moved higher after Ukraine headlines crossed. Northrop Grumman jumped about 4%. Lockheed Martin added more than 2%.

Energy stocks moves higher alongside the price of oil with the Energy Select Sector SPDR gaining 1.8%. Diamondback Energy rose 2.2% and Devon Energy added 2.6%. Exxon Mobil picked up 1.8% and ConocoPhillips gained 1.3%.

Shares of travel stocks like airlines dropped sharply. Shares of American Airlines fell 6%. Oil prices jumped, with West Texas Intermediate futures gaining 4%, as Russia is a key producer of oil and natural gas.

Semiconductor stocks, which have been volatile in part due to supply chain issues caused by COVID, were underperformers on Friday. Shares of Advanced Micro Devices and Xilinx fell about 8%.

In earnings news, shares of Newell Brands jumped 11% on Friday after the company beat estimates on the top and bottom lines for the fourth quarter. Shares of Under Armour dropped 12% after the apparel company highlighted supply chain issues in its quarterly report.

On the economic front, the University of Michigan’s preliminary consumer sentiment reading for February came in at 61.7, falling from 67.2 the previous month and missing expectations.

Prices for 10-year Treasurys gained, dropping yields sharply to 1.92%, from Thursday’s 2.05%. Treasury prices and yields move in opposite directions.

Oil prices hiked $4.08 to $93.96 U.S. a barrel.

Gold prices ballooned $26.00 to $1,863.40 U.S. an ounce.

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