TSX Ends Flat As Investors Assess Potential Impact Of Fresh Tariffs

RTTNews | Před 63 dny

(RTTNews) - The Canadian market settled flat on Thursday as investors made cautious moves while assessing the impact of U.S. President Donald Trump's 25% tariffs on imported vehicles effective April 3rd, and the impending announcement of reciprocal tariffs.

Trump also posted on his Truth Social Platform that he will impose even steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.

The benchmark S&P/TSX Composite Index settled at 25,161.06, exactly at previous session's closing figure. The index dropped to a low of 25,023.79 in early trades, and despite recovering to 25,205.59 by mid morning, struggled to move higher.

Healthcare, materials and communications shares found good support. Several stocks from consumer staples sector too moved higher. Technology and energy stocks traded weak.

Tilray climbed about 7.5%. Pet Valu Holdings, Iamgold Corp, Seabridge Gold, New Gold, Wesdome Gold Mines, Sandstorm Gold, Alamos Gold, Equinox Gold, Agnico Eagle Mines, SSR Mining, MAG Silver, Endeavour Silver, Aya Gold & Silver and B2Gold Corp gained 3 to 6%.

Pan American Silver Corp, Franco-Nevada Corp, Torex Gold, Kinross Gold, BCE, TerraVest Industries, Fortuna Mining, Cogeco Communications and Boyd Group Services also moved up sharply.

Among the major losers, Magna International, BRP, Bombardier Inc. and Lightspeed Commerce lost 5.5 to 7%.

BlackBerry, Air Canada, Celestica Inc., Linamar, Ivanhoe Mines, Enghouse Systems, Aecon Group, TFI International, Canadian Pacific Kansas City, TransAlta Corp, Ero Copper, Denison Mines, First Quantum Minerals, Teck Resources, Parex Resources and Enerflex lost 1.5 to 4%.

Data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5.5% year-on-year to $1,294.26 in January 2025, following a 5.9% year-over-year increase in December.

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.

RTTNews | Před 3 h 36 min

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.

RTTNews | Před 3 h 38 min

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".

RTTNews | Před 4 h 12 min

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c

RTTNews | Před 4 h 40 min

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.

RTTNews | Před 4 h 55 min