Jun 13, 2025 (Baystreet.ca via COMTEX) --
Equities in Canada's biggest centre opened lower on Friday, hurt by losses in technology shares, as Israel's widescale strikes on Iran soured global risk appetite and sent investors flocking to safe-haven assets.
The TSX Composite Index retreated 62.03 points to open Friday at 26,553.72.
The Canadian dollar skidded 0.11 cents to 73.44 cents U.S.
In corporate news, Dundee Precious Metals will acquire U.K.'s Adriatic Metals in a cash-and-stock deal valued at $1.25 billion, the mining companies said on Friday.
Economically speaking, manufacturing sales decreased 2.8% in April, the third consecutive monthly decline, driven largely on lower sales of petroleum and coal products, motor vehicles, and primary metals.
Excluding the petroleum and coal product subsector, total manufacturing sales were down 1.8%.
What's more, wholesale sales fell 2.3% to $84.0 billion in April.
Finally, new motor vehicle sales totaled 195,659 in April, increasing 11.3% from one year earlier. Gains were widespread, with all provinces observing a higher number of units sold. April represented the month with the highest sales on record in dollar terms, at nearly $10.8 billion.
ON BAYSTREET
The TSX Venture Exchange dipped 0.56 points to 721.23.
Eight of the 12 TSX subgroups were lower, weighed most by information technology, sliding 1.3%, financials, descending 0.7%, and real-estate, off 0.4%.
The four gainers were led by gold and energy stocks, each up 1.5%, while materials prospered 1%.
ON WALLSTREET
Stocks tumbled early Friday after Israel launched a wave of airstrikes on Iran, pushing energy prices higher and adding another complication at a time of heightened geopolitical tensions.
The Dow Jones Industrials collapsed 666.39 points, or 1.6%, to 42,301.23
The broader index dipped 58.42 points, or 1%, to 5,986.84.
The NASDAQ Composite skidded 219.53 points, or 1.1%, to 19,553.72.
Nvidia, Tesla and other stocks that have led the market's comeback from the April lows dropped as investors shed risk. Oil and defense stocks were higher. Exxon hiked 2% and Chevron added more than 1%, while Lockheed Martin jumped about 3%.
The market drop happened as Israel's defense minister Israel Katz declared a special state of emergency following an Israeli attack on Iran.
Media outlets quote two U.S. officials as saying that there is no U.S. involvement or assistance.
President Donald Trump, in a Friday morning post on his social media site Truth Social, warned Iran to come to the negotiating table.
"There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end. Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire," Trump wrote. "No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE."
Prices for the 10-year Treasury gained, lowering yields to 4.39% from Thursday's 4.36%. Treasury prices and yields move in opposite directions.
Oil prices increased $4.47 to $72.51 U.S. a barrel.
Gold prices vaulted $55.00 to $3,457.40 U.S. an ounce.
COMTEX_466340347/2559/2025-06-13T10:27:46
