The Globe and Mail reports in its Saturday edition that Canada's main stock index rose on Friday, while U.S. markets lost ground as oil prices eased back to where they were before the war with Iran. A Canadian Press dispatch to The Globe says the S&P/TSX Composite Index added 129.79 points to 34,980.00. Ian Chong at First Avenue Investment said the Toronto market benefited from gains in the materials sector, adding that gold prices lifted that part of the market while energy prices fell. As the price of oil spiked in tandem with the U.S. and Israel's war on Iran, investors grew increasingly concerned about the impact on inflation. They figured higher energy prices would drive inflation higher, potentially forcing central banks like the U.S. Federal Reserve to hike interest rates. Now that oil prices have begun to normalize, those inflation fears have eased. "You're seeing those inflation expectations get tempered somewhat, which is therefore positive for gold, and hence gold driving the TSX movement today," Mr. Chong said. The August gold contract was up $48.70 at $4,096.30 an ounce (all figures U.S.). New York's major indexes ended mainly flat. The August U.S. crude oil contract was down $2.69 at $69.23 a barrel.