TSX ends up 0.5% at 31,883.37
Shares of Denison Mines jump 13.7%
By Avinash P and Fergal Smith
Jan 2 – Canada’s main stock index began 2026 on a positive note on Friday despite downbeat domestic manufacturing data, as shares of uranium producers climbed.
The S&P/TSX Composite Index ended up 170.61 points, or 0.5%, at 31,883.37, rebounding after declines in the previous four sessions.
For the week, the TSX was down 0.4%. It posted a 2025 gain of 28.25%, its biggest annual advance in 16 years, as surging gold prices, lower borrowing costs and optimism around technology companies offset headwinds for the domestic economy.
The Canadian manufacturing sector contracted for an 11th consecutive month in December, as trade uncertainty contributed to a steeper decline in output and new orders.
“As we think about global market drivers, AI will remain a dominant theme, but we see solid reasons why markets are going to broaden both within tech and beyond tech,” said Angelo Kourkafas, senior global investment strategist at Edward Jones.
Technology was one of just two major sectors to end lower, falling 1%.
The advancing sectors were led by energy, which rose 1.8% even as the price of oil settled 0.2% lower at $57.32 a barrel.
Shares of Denison Mines jumped 13.7% after the uranium miner said it was ready to launch its flagship Phoenix ISR project. Energy Fuels shares were up 15.4%.
Industrials added 0.7%, heavily weighted financials were up 0.6%, while the materials group , which includes metal-mining shares, ended 0.2% higher as gold prices rose.
Hundreds of miners began a strike on Friday at Capstone Copper’s Mantoverde copper and gold mine in northern Chile after talks between the main union and the company on new labor contracts broke down. Shares of Capstone were down 1.5%.
This article was generated from an automated news agency feed without modifications to text.
