Canadian Market Likely To Open On Mixed Note

(RTTNews) - It's likely to be a mixed start for stocks on Bay Street on Friday with investors tracking a mixed trend in the commodities markets and reacting to Canadian jobs data for the month of September.

Easing worries about Middle East tensions and lower bond yields could aid sentiment. U.S. President Donald Trump said U.S. will not attack Iran till midterm elections and added that discussions with Tehran "were productive."

West Texas Intermediate Crude oil futures are down $0.60 or 0.65% at $90.89 a barrel.

Gold futures are up $50.00 or 1.2% at $4,207.00 an ounce, while Silver futures are gaining $1.356 or 2.28% at $60.780 an ounce.

Data from Statistics Canada showed employment in Canada dropped by 68,300 in September, the steepest decline in seven months, after falling 41,700 in August. The unemployment rate ticked up to 6.5% in September from 6.4% a month earlier.

Aritzia Inc. expects its third quarter net revenue to range from C$1.275 billion to C$1.325 billion, implying year-over-year growth of approximately 23% to 27%. The company expects its adjusted gross profit margin to reach approximately 47% to 47.5%, compared to 46% last year.

For the full fiscal 2027, the company now expects net revenue to be C$4.78 billion to C$4.88 billion, implying a growth of approximately 29%-32% compared with fiscal 2026. The firm previously expected annual net revenue in the range of C$4.55 billion to C$4.75 billion, a growth of around 23% to 28% year-over-year.

Lundin Gold Inc. reported a rise in gold production for the third quarter from its Fruta del Norte gold mine in southeast Ecuador, driven by higher than-planned grades and strong mill throughput. For the third quarter of fiscal 2026, the company produced 153,736 ounces (oz) of gold from its Fruta del Norte gold mine, compared with 122,086 oz in the same period last year. This 153,736 oz of output represents the highest quarterly gold production recorded since the commercial production launched at Fruta del Norte.

Canadian stocks ended higher on Thursday despite showing a lack of direction early in the session. The benchmark S&P/TSX Composite Index rose 103.52 points or 0.3% to 35,145.38 after spending early trading bouncing back and forth across the unchanged line.

Asian stocks ended mostly higher in thin trading on Friday, with markets in South Korea and Taiwan closed for holidays. While technology stocks came under selling pressure amid renewed concerns over the artificial intelligence (AI) boom and elevated borrowing costs, a retreat in oil prices and U.S. Treasury yields helped spur buying at lower levels.

The major European markets are up firmly in positive territory amid easing concerns about Middle East tensions after U.S. President Donald Trump said the U.S. will not attack Iran till the midterm elections are over. Lower oil prices and bond yields helped as well.