TORONTO (Reuters) -Canada's main stock index rose on Friday, with gains for energy and technology shares helping the market recover from an earlier steep decline.
The S&P/TSX composite index ended up 72.82 points, or 0.2%, at 30,326.46.
For the week, the index was up 1.4%. It touched on Wednesday a record closing high at 30,827.58.
"Market sentiment is swinging wildly this week, reflecting a clash of narratives that has left investors struggling to find direction," said Daniela Hathorn, senior market analyst at Capital.com.
"On one hand, optimism over the end of the U.S. government shutdown has sparked relief rallies, on the other, renewed concerns about the sustainability of the AI boom have quickly tempered the mood."
Wall Street stocks ended mixed as investors worried that the Federal Reserve may hold off on cutting U.S. interest rates in December.
The energy sector added 2.2% as the price of oil settled 2.4% higher at $60.09 a barrel on supply concerns. CES Energy Solutions Corp beat quarterly revenue estimates which helped send its shares 16.4% higher.
Pipeline operator Enbridge approved $1.4 billion in expansion projects for its Mainline and Flanagan South pipelines to the U.S., which it stressed is the most logical destination for new crude export capacity out of Canada. Shares of Enbridge were up 0.5%.
The technology sector rose 1.3%, with shares of electronic equipment firm Celestica Inc up 5.9%.
The board of Barrick Mining has raised the possibility of splitting the company into two separate entities, with one focused on North America and the other centered on Africa and Asia, four sources aware of the development told Reuters. Barrick's shares gained 1.7%.
The biggest decliner was Superior Plus Corp. Its shares tumbled 21% after the company missed revenue estimates.
(Reporting by Fergal Smith in Toronto and Avinash P and Pranav Kashyap in Bengaluru; Editing by Sahal Muhammed and Alistair Bell)
By Avinash P and Fergal Smith
