TSX Falls on Friday

2026-02-27 21:07 By Felipe Alarcon 1 min. read

Canada’s S&P/TSX Composite Index fell 0.5% to close at 34,340 on Friday, retreating from record levels as a cocktail of hot US inflation and domestic growth concerns weighed on Bay Street.

While the economy expanded 0.2% in December, the broader fourth-quarter contraction of 0.6% remained a significant drag on investor confidence.

The decline was primarily led by a 4.3% slump in Shopify, as software and AI infrastructure names globally faced a sharp correction following "hotter than expected" US producer price data.

Financials also struggled, with Royal Bank falling 1.8% and TD Bank losing 1.7% amid fears of sticky inflation.

On the upside, energy and materials provided a vital buffer as oil prices climbed and gold hit two-month peaks.

Enbridge gained 1.4% and Agnico Eagle rose 1.6%, while Fairfax Financial added 0.4% on news it is the frontrunner to acquire India’s IDBI Bank.

Despite the daily dip, the TSX still capped a volatile week with a 1.5% gain and a monthly advance of 7.6%.



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