Canadian Market Modestly Higher In Cautious Trade

(RTTNews) - The Canadian benchmark S&P/TSX Composite Index is modestly higher in late afternoon trades on Friday with stocks turning in a mixed performance.

Worries about U.S. tariffs and their potential impact on global economic growth appear to be weighing on sentiment. Investors are also digesting the nation's GDP report and U.S. PCE reading.

The benchmark S&P/TSX Composite Index is up 55.05 points or 0.22% at 25,183.29 with about an hour to go for the closing bell.

Technology and healthcare stocks are among the notable losers. Consumer discretionary and materials stocks are also weak. Consumer staples and industrials shares are finding modest support.

Laurentian Bank of Canada is down 3.7%. The bank reported net income of $38.6 million and diluted earnings per share of $0.76 , compared with $37.3 million and diluted earnings per share of $0.75 for the first quarter of 2024.

Boralex Inc., (BLX.TO) is declining 2.3% after reporting a net loss of $2 million for the quarter ended December 2024, compared with net earnings of $58 million in the year-ago quarter.

Docebo Inc (DCBO.TO) is plunging 17% after the company's fourth-quarter revenue fell short of expectations, and on a disappointing guidance by the company for the current quarter.

The company posted revenue of $54 million for the fourth quarter. For the first quarter of 2025, Docebo expects revenue between $57 million and $57.2 million, which is below analysts' projections.

Data from Statistics Canada said the Canadian GDP rose by 0.6% over a quarter in the three months to December of 2024, following an upwardly revised 0.3% increase in the prior period.

The Canadian GDP increased by 0.3% from the previous month in January of 2025, according to a flash estimate.

A report from the Canadian Federation of Independent Business said the Business Barometer long-term index in Canada, which is based on 12-month forward expectations for business performance, declined for a third straight month to 49.5 in February 2025, the lowest in ten months, compared to a downwardly revised 54.5 in January.

The U.S. Commerce Department said the annual rate of growth by the PCE price index slowed to 2.5% in January from 2.6% in December, which also matched expectations.

Excluding food and energy prices, the core PCE price still climbed by 0.3% in January after edging up by 0.2% in December. The increase by core prices was also in line with estimates.

The annual rate of core PCE price growth slowed to 2.6% in January from 2.9% in December, which also matched expectations.

The report said personal income grew by 0.9% in January after rising by 0.4% in December, while personal spending dipped by 0.2% in January after climbing by 0.8% in December.