Canadian Market Pares Some Early Gains; TSX Up 0.52%

(RTTNews) - The Canadian market is up firmly in positive territory around noon on Monday, thanks to fairly widespread buying as investors react to the U.S. Customs and Border Protection's announcement on Friday that certain tech products will be excluded from President Donald Trump's "reciprocal tariffs."

Among the products excluded from reciprocal tariffs are smartphones and computers as well as other devices and components like semiconductors.

However, the U.S. President claimed that there was "no Tariff 'exception' announced," noting the products are still subject to existing 20% fentanyl tariffs are just moving to a "different Tariff 'bucket.'"

The benchmark S&P/TSX Composite Index, which climbed to 23,916.31 earlier in the session, gaining nearly 330 points, was up 122.25 points or 0.52% at 23,710.05 a little past noon.

Lundin Gold is rising 5.7%. Osisko Gold Royalties is up 4.3%, while MAG Silver, First Majestic Silver, Cogeco Communications, B2Gold Corp, Empire Company, Torex Gold Resources, Premium Brands Holdings, Novagold, Lundin Mining, CT Real Estate, Great-West Lifeco and TerraVest Industries are up 2 to 4%.

Among the laggards, Richelieu Hardware is declining 3.6%. Tilray, MDA Space, Pason Systems, Precision Drilling Corporation, TFI International, Baytex Energy, Linamar Corporation, CES Energy and Endeavour Silver are down 1 to 3%.

In economic news, data from Statistics Canada said new motor vehicles sales in Canada increased to 125,402 Units in February from 121,258 Units in January of 2025.

A separate data from Statistics Canada showed wholesale sales in Canada increased 0.3% month-over-month to $85.7 billion in February.