TSX Ends Moderately Lower

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(RTTNews) - The Canadian market ended notably lower on Friday with investors reacting to some weak earnings updates, and data showing weaker than expected U.S. retails data. Worries about potential new tariffs by the Trump administration weighed as well on sentiment.

The benchmark S&P/TSX Composite Index ended down 215.28 points or 0.84% at 25,483.23, slightly off the day's low of 25,470.77. The index gained a marginal 0.14% in the week.

MTY Food Group Inc (MTY.TO) tanked nearly 12%. The company reported net loss of $55.3 million, or $2.34 per diluted share in the fourth-quarter, compared with a profit of $16.4 million, or $0.67 per diluted share in the prior year period.

Magna International (MG.TO) closed more than 4% down, after the company said that its fourth-quarter bottom line totaled $203 million, or $0.71 per share. This compares with $271 million, or $0.94 per share, last year. Magna has declared a fourth-quarter dividend of $0.485 per share, an increase of 2%.

Silvercrest Metals (SIL.TO) and Seabridge Gold (SEA.TO) lost 8.6% and 15.5%, respectively. Eldorado Gold (ELD.TO), Telesat Corporation (TSAT.TO), Enbridge Inc (ENB.TO), Agnico Eagle Mines (AEM.TO) and MAG Silver Corp (MAG.TO) lost 4 to 6%.

Cameco Corporation (CCO.TO), Franco-Nevada Corporation (FNV.TO), Osisko Gold Royalties (OR.TO), Alamos Gold (AGI.TO), Thomson Reuters (TRI.TO), Endeavour Mining (EDV.TO) and Restaurant Brands International (QSR.TO), Wheaton Precious Metals (WPM.TO) and Newmont Corporation (NGT.TO) also declined sharply.

Enbridge Inc. (ENB.TO) dropped 5.5% after the company projected distributable cash flow (DCF) in a range of $5.50 to $5.90 per share and adjusted EBITDA between $19.4 billion and $20 billion for fiscal 2025.

The Company also reaffirmed its 2023 to 2026 near-term growth outlook of 7 to 9% for adjusted EBITDA growth, 4 to 6% for adjusted earnings per share growth and approximately 3% for DCF per share growth.

CAE Inc (CAE.TO), Interfor Corporation (IFP.TO), goeasy (GSY.TO), Velen In (VLN.TO), Bombardier Inc (BBD.B.TO), Russel Metals (RUS.TO) and Cogeco Inc (CYG.TO) closed with sharp gains.

On the economic front, manufacturing sales in Canada rose 0.3% month-over-month in December 2024, slower than initial estimates of 0.6%, and following a revised 0.7% increase in the prior month, data from Statistics Canada showed.

Meanwhile, wholesale sales in Canada fell 0.2% month-over-month in December 2024, matching the 0.2% decline in November.

Car registrations in Canada decreased to 135,511 units in December 2024, down from 161,535 units in the previous month.

Euro Higher Against Majors

The euro appreciated against its major counterparts in the New York session on Friday.

RTTNews | 14h 31minuter sedan

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.

RTTNews | 17h 21minuter sedan

Swiss Market Ends On Firm Note

The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.

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European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.

RTTNews | 18h 8minuter sedan

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | 19h 45minuter sedan

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

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U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | 20h 32minuter sedan

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

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