Author: Reuters

Canadian stocks climbed on Thursday as falling bond yields and rising commodity prices boosted investor sentiment, while markets also weighed evolving U.S. tariff policies.

The Toronto Stock Exchange’s S&P/TSX Composite Index climbed 0.5% to 24,604.05 points, and was on course for the third successive daily gain.

The heavily weighted energy sector added 0.6% as oil prices recovered some losses on Thursday.

Materials also climbed 0.6% after gold prices rebounded, as investors bought bullion following a sharp decline in the previous session.

“Any sign of commodities stabilizing, I think is a good sign in today’s market,” said Michael Sprung, president at Sprung Investment Management.

Canadian government bond yields fell across the curve with 10-year bond yields falling 5.8 basis points to 3.191%.

Falling yields, which reduce the risk-free rate benchmark, decrease borrowing costs and enhance the value of companies’ future cash flows.

TSX falls as Trump’s Fed criticism shakes markets

Among index sectors, information technology rose over 1%; electronics manufacturer Celestica led sector gains at 5%. Healthcare stocks advanced 1.3%, buoyed by cannabis producer Tilray Brands, which surged 4%

On the flip side, consumer staples lost the most, falling 0.4%.

China on Thursday called for all “unilateral” U.S. tariffs to be canceled, as signs emerged that the Trump administration may de-escalate its trade war with Beijing.

On Wednesday, TSX had climbed to a three-week high as some optimism took hold of a letup in the global trade war.

However, later that day, Trump said a 25% tariff on cars imported from Canada to the United States could go up.

Investors’ attention was also divided among a series of earnings reports from U.S. companies, which presented a mixed picture.

Among domestic earnings, miner Teck Resources beat first-quarter expectations, helped by higher commodity prices and copper sales volumes. Its shares rose 3.8%.

TORONTO: Canada’s commodity-heavy main stock index fell on Monday, led by a decline in energy shares, as investors were jittery after US President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell.

Toronto Stock Exchange’s S&P/TSX Composite Index fell 0.6% to 24,037.16 points, on pace to snap its five-session winning streak.

Including Monday’s moves, the TSX shed 2.4% in 2025, compared with 11.6% downfall on S&P 500 in the US

“The TSX continues to outperform the S&P 500 this year, but it is not immune to what is going on south of the border,” said Angelo Kourkafas, investment strategist at Edward Jones Investments.

“The fact that we are seeing a risk-off move in US markets, it is hard for the Canadian markets to ignore and that is also a bit of a driver.”

The Canadian market tracked a decline in Wall Street’s main indexes, as the Trump administration’s statement about considering options to fire Powell, a day after the President’s criticism, fueled concerns about the central bank’s autonomy.

The Canadian government 10-year bond yields rose 5.1 basis points to 3.188%, also tracking its US counterpart.

In Canada, nine of the 11 major sectors traded in red.

The healthcare sector led losses with a 2.2% fall. Pharmaceutical firm Bausch Health fell 7%.

The heavy-weight energy stocks dropped more than 1% as oil prices fell after nuclear talks between the US and Iran showed progress.

On the other hand, metal mining shares were up 1.5% as gold miners benefited from the yellow metal’s record run.

Focus was also on the US-China trade tensions after Beijing on Monday warned of “countermeasures” against countries striking deals with the US at its expense.

Energy stocks led Canada’s main stock index higher on Thursday, as investors took stock of U.S.-Japan trade negotiations, although sentiment remained fragile amid tariff uncertainties.

Toronto Stock Exchange’s S&P/TSX Composite Index rose 0.16% to 24,141.14 points, and was poised for its largest weekly advance since September 2024, if gains hold.

On the day, the energy sector powered the gains, climbing 1.8% as oil prices reached their highest level in two weeks.

Markets have been focused on the rapidly evolving trade policies under the Trump administration, with investors awaiting potential agreements between the U.S. and its trading partners.

On Wednesday, U.S. President Donald Trump touted “big progress” in tariff talks with Japan. Japanese representative Ryosei Akazawa revealed limited details but confirmed a second meeting is scheduled for later this month, noting Trump called a deal with Japan a “top priority.”

“Markets tend to respond positively when protectionist risks recede,” said David Ferreira, portfolio manager at Harbourfront Wealth Management.

Resource shares help lift Toronto stock market to weekly gain

“A stable trading relationship between two major global economies reinforces confidence in global supply chains and demand forecasts — both of which are key for Canadian exporters and commodity producers”.

Bond proxy utilities rose 1.3%, as Canada’s 10-year bond yield fell to 3.090% after sharply rising in the previous session. Heavy-weighted financials added 0.3%.

Capping the gains, materials group which include metal mining shares, dropped over 1% as gold prices pulled back from a record high on profit booking.

Healthcare stocks were down 0.3%, with cannabis firm Tilray Brands falling 5% to the bottom of the benchmark index.

The Canadian stock markets will be closed on Friday for the Good Friday holiday.

Canada’s main stock index rose on Tuesday as domestic inflation rate unexpectedly cooled, while prospects of automotive tariff exemptions further lifted investor sentiment.

Toronto Stock Exchange’s S&P/TSX Composite Index rose 0.6% to 24,010.13 points.

Domestic data showed Canada’s annual inflation rate unexpectedly slowed to 2.3% in March, down from 2.6% in February, primarily due to falling gasoline and travel tour prices.

“The market is probably encouraged to see inflation coming down here in Canada to a certain degree,” said Brian Madden, chief investment officer and portfolio manager at First Avenue Investment Counsel.

Despite this overall decline, core inflation measures closely watched by the Bank of Canada remained high.

The data comes just before the Bank of Canada’s monetary policy decision on Wednesday; markets currently forecast a 57% chance the bank will pause after seven consecutive rate cuts.

On the tariff front, U.S President Donald Trump on Monday suggested potential exemptions for the 25% tariffs on imports of autos and auto parts from Mexico, Canada and other regions.

Resource shares help lift Toronto stock market to weekly gain

“I think the President is getting quite an earful from the manufacturers in the U.S., who are pointing out that the auto supply chain is very tightly integrated across Canada, the U.S. and Mexico,” Madden said.

“It is very difficult to repatriate the manufacturing of literally everything to the United States.”

Separately, Canadian housing starts declined 3.3% in March compared with the previous month, data from the national housing agency showed on Tuesday.

On the TSX, information technology shares led the gains, rising 1.7%.

Heavy-weight financials rose 0.8%, with Brookfield Asset Management rising 2%.

On the flip side, consumer staples and consumer discretionary were down 1% and 0.4% respectively.

Among individual stocks, women’s clothing retailer Group Dynamite climbed 5.2% after reporting upbeat fourth-quarter results and announcing a share buyback program.

Canada’s main stock index rose on Monday with broad-based gains as investors welcomed the White House’s exclusion of smartphones and computers from reciprocal tariffs against China.

Toronto Stock Exchange’s S&P/TSX Composite Index rose 1.25% to 23,879.59 points.

The White House unveiled the tariff exemptions on Friday covering 20 categories including smartphones and laptops, as well as semiconductor memory chips and flat panel displays, accounting for 23% of U.S. imports from China.

But U.S. President Donald Trump on Sunday said that semiconductor tariffs would be announced within the next week, with a decision regarding phones coming “soon.”

“I think anytime we get some positive news on tariffs, market seem to be rallying and anytime we get a little bit of negative news on tariffs, they seem to be selling off,” said Josh Sheluk, portfolio manager at Verecan Capital Management.

Resource shares help lift Toronto stock market to weekly gain

Canadian government bond yields fell across the curve on Monday, with the 10-year note last at 3.176%, tracking its U.S. counterparts lower.

On the TSX, rate-sensitive real estate sector led the gains, climbing 1.6%.

Utilities, often traded as a bond proxy owing to their stable income regardless of economic situation, added 0.9%.

Information technology gained 1%, with software firm Computer Modelling Group rising 4.3%.

Looking ahead, this week’s economic calendar features key data, including Tuesday’s domestic consumer inflation report and Wednesday’s Bank of Canada interest rate decision.

The central bank is likely to pause its rate-cutting cycle this week, as increasing inflation, deteriorating employment figures and Trump’s partial retreat from broad tariffs have diminished the need for immediate economic stimulus.

As of Friday, traders bets showed about 60% probability for an interest rate pause.

TORONTO: Canada’s main stock index rose on Friday as higher commodity prices boosted resource shares and investors weighed the potential for recent financial market volatility brought on by a global trade war to subside.

Toronto Stock Exchange’s S&P/TSX Composite Index ended up 572.93 points, or 2.5%, at 23,587.80. For the week, the TSX was up 1.7% after some wild swings, which included a near eight-month low on Tuesday.

Wall Street also notched gains on Friday as big banks kicked off first-quarter earnings season.

“It’s a positive outcome to what has been a very chaotic week as far as announcements go, but I think investors will take the positives wherever they can get them,” said Philip Petursson, chief investment strategist at IG Wealth Management.

“I am reluctant to say that the volatility is over, but I think that the worst of the volatility is likely behind us.”

The materials group, which includes fertilizer companies and metal mining shares, rose 4.8% as copper prices jumped and gold climbed above $3,200 per ounce for the first time.

The precious metal has benefited from safe-haven demand as well as recent sharp declines for the US dollar.

The Canadian dollar strengthened to a five-month high against its US counterpart as the erratic nature of US trade policy weighed on the greenback and ahead of a potential pause in the Bank of Canada’s interest rate-cutting campaign at a policy decision on Wednesday.

The price of oil also rose, settling 2.4% higher at $61.50 a barrel. Energy added 3.3% and heavily weighted financials ended 2% higher.

All 10 major sectors notched advances, but the gain for real estate was marginal as the recent rout in the US bond market helped drive up Canada’s long-term borrowing costs. The Canadian 10-year yield touched a 2-1/2-month high at 3.309%.

Canada’s main stock index advanced on Friday, led by gains in materials stocks, following strong earnings from U.S. big banks including JPMorgan, while investors treaded carefully amidst heightened U.S.-China trade tensions.

Toronto Stock Exchange’s S&P/TSX Composite Index rose by 0.7% to 23,167.43 points, maintaining its momentum towards a weekly gain, provided the uptick sustains.

As earnings season kicked in, profits at major U.S. banks beat estimates in the first quarter as stock trading jumped, but executives warned that the sweeping tariffs could fuel risks and weigh on economic growth.

Meanwhile, China raised its tariffs on U.S. imports to 125%, retaliating against U.S. President Donald Trump’s increase of duties on Chinese goods to 145%, intensifying the ongoing trade war between the two largest economies that threatens to upend global supply chains.

Earlier this week, Trump paused duties for dozens of countries for 90 days giving markets a brief reprieve, but concerns returned with the ongoing conflict with China, fueling fears of a recession.

“Uncertainty and volatility will continue throughout”, said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.

“The banks looks good sure, but any negativity out of the White House, and that’ll all be erased very quickly.”

On TSX, materials gained 4.1%, tracking bullion’s rise after the safe-haven metal surpassed the key $3,200 mark for the first time.

Heavyweight financial stocks were up 0.8%, after positive corporate results from U.S. peers. Sprott led the gains in the index, up 2.7%.

Bucking the trend, information technology fell 1.6%, with shares of e-commerce company Shopify slipping 5.6%.

Separately, data showed U.S. monthly producer prices unexpectedly fell in March amid a sharp decline in the cost of energy products, but tariffs on imports are expected to drive inflation higher in the coming months.

The University of Michigan Surveys of Consumers said its Consumer Sentiment Index in the U.S. dropped to 50.8 this month, compared to a forecast of 54.5.

Back home, Canadian Prime Minister Mark Carney is set to convene a meeting with his top cabinet colleagues later in the day to discuss the threat posed by U.S. tariffs.

Canada’s main stock index rose on Tuesday after three straight sessions of losses as information and technology stocks powered the broader gains, while investors await any sign of the U.S. opening up for negotiations over some of the aggressive tariffs.

Toronto Stock Exchange’s S&P/TSX composite index was up 2% at 23,325.64 points.

White House economic adviser Kevin Hassett said on Tuesday U.S. trade negotiators are prioritizing allies as they move forward on trade and are focused on big trading partners that have had big trade surpluses for years with the United States.

Uncertainty, however, persisted as the U.S. called China’s retaliation against its tariffs a “big mistake”.

China refused to bow to what it called “blackmail” after U.S. President Donald Trump threatened to increase tariffs on imports from China to over 100% in response to Beijing’s matching of his earlier tariff announcements.

“The TSX often mirrors U.S. indices, and with those showing cautious optimism today after tariff-driven sell-offs, any overnight developments — especially if China doubles down — could trigger volatility,” said Graham Priest, investment advisor at BlueShore Financial.

Wall Street’s main indexes also bounced back from a heavy selloff on Tuesday.

On TSX, information and technology, up 3.6%, led sectoral gains.

Materials stocks rose 2.7%, tracking higher copper and aluminium prices benefitting from a weaker U.S. dollar, while gold prices again rose above $3,000 per ounce as demand for the safe-haven asset increased.

On the flip side, communication shares dropped 1.2% with BCE leading the declines, down 3%.

On the data front, Canadian economic activity expanded at a slower pace in March as employment declined and prices heated up, Ivey Purchasing Managers Index (PMI) data showed.

Looking ahead, investors will focus on the U.S. consumer price inflation reading on Thursday, which could offer more clues on the inflation trajectory in the world’s largest economy.

Canada’s main stock index fell sharply on Friday as investors reacted to mounting global trade tensions following China’s retaliatory measures against U.S. reciprocal tariffs.

Toronto Stock Exchange’s S&P/TSX composite index fell 5% to 23,118.61 points, its lowest since 11 September 2024 if losses hold.

China on Friday retaliated with additional tariffs of 34% on all U.S. goods from April 10, intensifying a trade war between the two leading global economies and amplifying fears of a recession.

“There is going to be this idea that whatever U.S. does, we are going to do back the same, and that is obviously not good for the markets,” said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.

On Thursday, Canadian Prime Minister Mark Carney announced a limited set of counter measures against U.S. tariffs.

Heavyweight energy sector led the declines on TSX, falling 9.7%, as oil prices plunged 8% and are headed towards their lowest close since the midst of the coronavirus pandemic in 2021.

TSX flat as markets await Trump tariff reveal

Materials sector fell 7.9%, tracking the decline in base metals, with copper on track for its biggest weekly slide since the early days of the 2020.

Gold prices fell more than 1%, as traders liquidated their bullion positions amid broader market selloffs.

Information technology stocks touched their lowest in seven months, down 3%. Celestica fell nearly 8%, the steepest drop in the sector.

On the data front, U.S. Labor Department reported a higher-than-expected job increase in March, but Trump’s tariffs may weaken the labor market as business confidence drops.

Canada’s unemployment rate ticked up in March.

Investors will also be watching Federal Reserve Chair Jerome Powell’s speech at 11:25 a.m. ET for clues on the path of interest rates cuts.

Canada’s main stock index was flat on Wednesday in choppy trading ahead of U.S. President Donald Trump’s reciprocal tariff announcement, with investors fearing significant ripple effects on global economic growth.

Toronto Stock Exchange’s S&P/TSX composite index was down 0.03% at 25,025.74 points, after two straight sessions of gains.

Trump, who has kept the world guessing on the details of the levies plans for weeks, is set to announce sweeping reciprocal tariffs on global trading partners at 1600 ET (2000 GMT), in what the White House has dubbed “Liberation Day.”

The tariffs, which will take effect immediately upon announcement, are expected to trigger price increases, prompt retaliatory measures from affected countries and disrupt decades of established trade practices.

“We are heading into a very, uncertain period and it is going to be a rough ride … this is a day where people should be already positioned in what they consider to be safer havens,” said Michael Sprung, president at Sprung Investment Management.

Communication stocks led the declines on Canada’s benchmark index, down 0.8%.

Materials stocks declined for the second straight session, down 0.6%, tracking lower copper prices.

Energy stocks fell 0.5%, as oil prices extended losses on concerns that an escalating trade war could dampen demand for crude.

Looking ahead, market participants will turn to Federal Reserve Chair Jerome Powell’s speech on Friday for insights on the health of the U.S. economy and trajectory of interest rates.

Traders expect three rate cuts from the Fed this year, although concerns about inflation driven by tariffs are adding uncertainty to the outlook.

Among individual stocks, Blackberry fell 11.6% after the cybersecurity firm forecast a revenue decline in fiscal 2026 as it anticipated weak spending on its cybersecurity products.