Canada's equity market finished lower on Friday, with the S&P/TSX Composite retreating 3.31% at the close in Toronto. Broad weakness was led by declines in the Materials, Information Technology and Industrials sectors.
The session's strongest performers on the benchmark included Brookfield Renewable Energy Partners LP (TSX:BEP_u), which climbed 6.03% or 2.31 points to finish at 40.62. 5N Plus Inc. (TSX:VNP) advanced 3.57% or 0.83 points to close at 24.08, and Bausch Health Companies Inc (TSX:BHC) gained 3.44% or 0.26 points to trade at 7.81 at the close.
On the downside, the largest declines were seen in several resource and metals-related names. NovaGold Resources Inc (TSX:NG) tumbled 19.91% or 2.95 points to end the day at 11.87. First Majestic Silver Corp. (TSX:AG) dropped 16.45% or 5.58 points to finish at 28.35, while Perpetua Resources Corp (TSX:PPTA) slumped 16.28% or 7.04 points to close at 36.19.
Decliners outnumbered advancers on the Toronto Stock Exchange by 588 to 399, with 59 stocks unchanged at the close. Notably, shares of 5N Plus Inc. (TSX:VNP) reached an all-time high during the session, finishing up 3.57% at 24.08.
Volatility measures moved higher as well. The S&P/TSX 60 VIX, which gauges implied volatility for S&P/TSX Composite options, rose 26.46% to 19.31, marking a new one-month high for that index.
Commodity markets showed divergent moves. Gold Futures for April delivery fell sharply, down 8.51% or 455.80 to $4,899.00 a troy ounce. By contrast, crude oil prices edged upward: March delivery crude oil was up 0.57% or 0.37 at $65.79 a barrel, and the April Brent contract rose 0.46% or 0.32 to trade at $69.91 a barrel.
In currency trading, the Canadian dollar weakened against the U.S. dollar, with CAD/USD down 0.96% to 0.73. CAD/EUR was recorded as unchanged 0.05% to 0.62. The U.S. Dollar Index Futures climbed 0.88% to 96.98.
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Overall, the session closed on a risk-off tone for Canadian equities, with pronounced moves in mining and precious metals names alongside a notable increase in implied volatility.
Data recap:
- S&P/TSX Composite -3.31% at close
- Top gainers: Brookfield Renewable Energy Partners LP (TSX:BEP_u) +6.03% to 40.62; 5N Plus Inc. (TSX:VNP) +3.57% to 24.08; Bausch Health Companies Inc (TSX:BHC) +3.44% to 7.81
- Top decliners: NovaGold Resources Inc (TSX:NG) -19.91% to 11.87; First Majestic Silver Corp. (TSX:AG) -16.45% to 28.35; Perpetua Resources Corp (TSX:PPTA) -16.28% to 36.19
- S&P/TSX 60 VIX +26.46% to 19.31 (one-month high)
- Gold Futures (April) -8.51% to $4,899.00 per troy ounce; Crude (March) +0.57% to $65.79/bbl; Brent (April) +0.46% to $69.91/bbl
- CAD/USD -0.96% to 0.73; CAD/EUR unchanged 0.05% to 0.62; US Dollar Index Futures +0.88% to 96.98