After opening weak and drifting down a bit more subsequently, Canadian stocks recovered on Friday, riding on strong gains in energy and materials sectors.
Lingering uncertainty about the status of U.S.-Iran peace talks rendered the mood weak at the start, but the market gained in strength subsequently as firm commodity prices triggered some hectic buying in materials and energy stocks.
Though U.S. President Donald Trump has extended the pause on strikes on Iran by 10 days, the undertone still remains a bit cautious amid reports the Pentagon is planning to send 10,000 more troops to the Middle East, signaling a possible escalation in tensions in the region.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.