Category: Canada

Equities Jump In First Hour

(MENAFN– Baystreet)

Canada’s main stock index opened higher on Tuesday, recovering from previous session’s steep decline, but investor sentiment remains cautious following U.S. President Donald Trump’s recent attacks on Federal Reserve Chair Jerome Powell.
The TSX Composite Index screamed higher 292.91 points, or 1.2%, to 24,301.77
The Canadian dollar was flat at 72.24 cents U.S.
The Toronto Stock Exchange fell on Monday, snapping its five-day winning streak, as investors were jittery after U.S. President Donald Trump’s scathing attack on Federal Reserve Chair Jerome Powell for not cutting interest rates.
The president called Powell a “major loser” in a social media post on Monday, which raised concerns about the independence of the central bank.
In corporate news, a U.S. appeals court on Monday revived a proposed data privacy class action against Shopify, whose shares began Tuesday up $2.18, or 1.9%, to $115.10.
Economically speaking, Statistics Canada said its March Industrial Product Price Index rose 0.5% month over month in and increased 4.7% year over year.
The same month, its Raw Materials Price Index declined 1.0% month over month in and grew 3.9% year over year.
ON BAYSTREET
The TSX Venture Exchange recovered 6.33 points, or 1%, to 637.25.
All 12 subgroups were higher in the first hour, led by health-care, zooming 3.3%, while energy soared 1.6% and financials were richer 1.5%.
ON WALLSTREET
Stocks rose Tuesday as traders tried to recover following a rough day on Wall Street, as President Donald Trump’s latest criticism of Federal Reserve Chair Jerome Powell hurt sentiment.
The Dow Jones Industrials recovered 696.58 points, or 1.8%, to 38,866.99.
The S&P index climbed 89.69 points, or 1.1%, to 5,247.89
The NASDAQ Composite spiked 315.2 points, or 2%, to 16,186.10
Tesla shares rose 3% ahead of the company’s first-quarter report after the bell. Netflix climbed 4%, while Meta improved 1% and Amazon advanced 2%. Manufacturing conglomerate 3M rose 6% on the back of better-than-expected earnings, leading the blue-chip Dow higher.
Tuesday’s action comes on the heels of a sharp selloff. The Dow dropped more than 970 points in the regular session, while the S&P 500 and NASDAQ both slid more than 2%. Monday marked the fourth straight losing session for the Dow and NASDAQ.
Investors grew increasingly uncertain after Trump posted on Truth Social that the economy would slow if the Fed did not cut interest rates. In the latest of multiple recent posts calling out Powell by name, he called the Fed chief“Mr. Too Late” and a“major loser.”
Trump hinted at Powell’s“termination” last week, an unprecedented action that White House economic advisor Kevin Hassett said the president’s team was currently studying. Powell has said he cannot be fired under law and intends to serve through the end of his term in May 2026.
Prices for the 10-year Treasury regained strength Tuesday, raising yields to 4.39% from Monday’s 4.41%. Treasury prices and yields in opposite directions.
Oil prices forged ahead $1.02 to $64.10 U.S. a barrel.
Prices for gold popped $18.00 to $3,443.30 U.S.

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Institutional and ETF buys boost Solana (SOL) price

Solana (SOL) is improving its demand and supply balance, with signs of institutional buying. ETFs are also starting to build up reserves, decreasing the available SOL. 

Solana (SOL) is attracting whales, institutions, and demand from ETFs, offsetting the previous selling pressure and recent token unlocks. The inflows reflected the recent SOL recovery, extending the circle of buyers to institutions and funds. The renewed interest in SOL from external investors came just as SOL had recovered to over $144. 

Institutional and ETF buying boosts Solana (SOL)
SOL recovered to $144.98, following increased on-chain activity and demand for meme tokens. | Source: Coingecko

The most recent inflows came from the Canadian market. Canadian SOL-based ETF saw CAD 120 ($87M) of inflows in the past week, offsetting recent selling from whales and fee producers like Pump.fun. The increased volumes followed the launch of the first spot ETF on the Toronto Stock Exchange. 

On April 15, the Toronto Stock Exchange listed a batch of SOL-based ETFs, with one of the funds drawing in over 82% of the initial volumes. SOLQ by 3iQ drew in CAD 100.3M, far surpassing rivals Evolve, Purpose, and CI Galaxy. The funds are made more attractive, as SOLQ and Evolve offer zero fees until January 2026. 

The US asset management company Arc Invest is also among the buyers of SOLQ, another sign of institutional demand. The availability of SOL ETF in North America may tap some of the mainstream interest in SOL. US-based ETFs are still in the revision queue, going through the lengthy US SEC procedure. 

The Canadian spot ETF also includes staking rewards, as the firms have organized to deposit SOL with trusted validators, choosing Figment to secure the simple staking rewards. 

The renewed buying follows a shift of funds from Galaxy Digital, switching from Ethereum (ETH) to Solana (SOL). 

Janover rebrands as Solana treasury vehicle

One source of demand for SOL can come from the Janover public company. Trading under the JNVR ticker, Janover is now rebranding to the DeFi Development Corporation. The rebrand announcement on April 22 coincided with the latest purchase of additional SOL.

The entity’s mission will be to perform regular leveraged purchases of SOL, forming a growing treasury. The buying will resemble the approach of Strategy (MSTR) for Bitcoin (BTC). 

The company already holds 251,842 SOL after a few recent purchases. DeFi Development Corporation announced the purchase of another 88,164 SOL, valued at $11.5M, this Tuesday. 

The company is now allocating a $42M financing round to acquire more SOL. The tokens in the treasury will be immediately put into native staking, getting the basic Solana yield, while serving to secure the network. DeFi Development Corporation has a plan for deploying capital when conditions are favorable. The recent purchases tracked the SOL recovery from under $100 up to $140.

The company started its SOL buying strategy after wrapping up its acquisition by former Kraken executives. Having a dedicated buyer is helping reverse the pressures on SOL, especially after the peak unlocks during Q1. 

DeFi Dev Corp is measuring its acquisitions through SOL per share. Currently, the company holds 0.17 SOL per share. After the rebranding, the JNVR stock expanded by 5.9%, rising to $41.55. The company is transparent about its SOL and crypto holdings and will issue regular updates for new purchases.

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Gold prices surge in Canada, boosting stock market

April 2025 is proving to be a golden month for Canadian investors, with the price of the precious metal experiencing a significant surge. This jump in gold prices has not only grabbed the attention of people but has also had a big effect on the overall Canadian stock market, even more so than the Bank of Canada’s decision to keep interest rates unchanged.

Canada’s central bank has maintained its key policy rate at 2.75%, following seven consecutive cuts.

Right now, on April 22, here’s what you’d pay per gram:
For the purest gold (24 Karat): $154.75

For slightly less pure gold (22 Karat): $146.50


For gold mixed with other metals (18 Karat): $119.90Since the start of April, the price of both the purest and slightly less pure gold has gone up by about 5%. Even though there were some days which saw the gold prices going down, they bounced back and have been rising. This shows that there’s a lot of interest in buying gold right now.This rise in gold prices has also been good for companies that mine gold in Canada. On April 16, their stocks did better than any other group on the Toronto Stock Exchange. This also helped the main stock market index to go up a little bit, even though the Bank of Canada decided not to change interest rates.

Experts say that people often buy gold when they’re worried about things like rising prices (inflation) or instability in the world. Also, because many central banks around the world are buying more gold, it makes gold seem like a safer and more stable investment, which can push its price higher.

The Bank of Canada has also warned the US tariff war unleashed by President Donald Trump could lead to a rise in inflation. There are chances, although it is a worst-case scenario, that the country may also plunge into recession.

So, gold seems to be a safe bet for many investors who are flocking to buy the yellow metal.

TSX rises but Trump’s Fed comments keep investors cautious

By Ragini Mathur

(Reuters) -Canada’s main stock index rose on Tuesday, as investors took a breather after the previous session’s decline that was triggered by U.S. President Donald Trump’s recent attacks on Federal Reserve Chair Jerome Powell.

The Toronto Stock Exchange’s S&P/TSX Composite Index rose 1.2% to 24,285.17 points, its highest level since April 3.

However, investors remained concerned about a market turmoil if Trump followed through on his threats to fire Powell, analysts said.

The TSX fell 0.7% on Monday, reflecting the stress in global markets, as the unprecedented move, if it happened, was seen undermining the Fed’s independence and inflation-fighting credibility.

“The bigger picture is markets are still quite concerned about the degree of uncertainty both around U.S. trade policy as well as monetary policy,” said Douglas Porter, chief economist at BMO Capital Markets.

“But Canada actually is seen as a little bit of a safer place to invest these days with a little bit less uncertainty than what we’re seeing out of the U.S.”

Including Tuesday’s moves, the TSX shed 1.7% in 2025, compared with 10.8% downfall on S&P 500 in the U.S.

On Tuesday, all major sectors traded in the green.

The healthcare sector was the top gainer with a 3.6% and was set to recoup the 4% loss on Monday.

Bausch Health Companies topped the benchmark index with a 9% jump after the pharmaceutical firm said billionaire Carl Icahn has a total economic exposure of about 34% to the company’s common shares. The stock had fallen 8% on Monday.

Energy shares climbed 1.9% as oil prices bounced back on Tuesday.

Heavyweight financials were also up 1.5%.

Looking ahead, Canadian retail sales data on Friday will offer insights into consumer spending patterns amid the uncertainty around U.S. tariffs.

This is also the final week of campaigning before Canada’s election on April 28, with Prime Minister Mark Carney maintaining his lead in the polls, pledging on a new economic order that is less reliant on the U.S.

(Reporting by Ragini Mathur in Bengaluru; Editing by Sahal Muhammed)

Brought to you by www.srnnews.com

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Construction Leader: AtkinsRéalis’ James Butler on the global company making a local impact

Construction Leader: AtkinsRéalis' James Butler on the global company making a local impact

James Butler

During a visit to Aberdeen, James Butler from AtkinsRéalis catches up with Colin Cardwell to outline the encouraging future in store for the company in Scotland.

You can’t be an effective leader from behind a computer screen. That’s one of the maxims that informs James Butler’s role as UK managing director of the project and programme services division of AtkinsRéalis, a global design, engineering and project management company.

With 2,000 staff working in project and programme services, and 40 offices in the UK, he spends a lot of time travelling around the country. “Then it’s about keeping eye contact with the local teams”, he says. “I try to make sure I’m visible and spend time in all our offices, with all our teams.”



And there are rules for these visits. “One is that there’s no ‘red carpet’,” he says. “I don’t want to distract people from focusing on one another and delivering a great service to our clients.”

When we speak, the youthful Butler is in an unseasonably sunny Aberdeen, talking with a local team that he says are “experts in the local market, particularly from a social infrastructure perspective, delivering schools and housing projects, while other parts of the business might well be focused on the type of mega projects to which you need to bring the best global resource in order to deliver them”.

Construction Leader: AtkinsRéalis' James Butler on the global company making a local impact

Summerhill in Aberdeen

The scope of the company’s projects is, frankly, enormous. AtkinsRéalis has its global HQ in Montreal and was formerly three brands under one group: Canadian engineering firm SNC-Lavalin, alongside UK-based Atkins and Faithful+Gould. AtkinsRéalis today has some 40,000 staff worldwide and its portfolio includes design, consultancy and financing in areas such as road, railways, nuclear and aviation as well as housing and commercial and public sector buildings.



SNC Lavalin acquired Atkins and Faithful+Gould in 2017, then underwent a rebrand in 2023, which was one of the biggest opportunities Butler had encountered. “All parts of business now use the AtkinsRéalis name, which makes complete sense as a business. It’s easier for our clients to understand and it also allows us to invest in a single brand more heavily than in multiple brands,” he says.

Now the UK and Ireland comprise a significant part of the Toronto Stock Exchange-listed group with 13,000 people, of whom some 950 are based in Scotland, where prospects are, he says, very encouraging, including the recent move to a new office in Edinburgh.

“However, rather than travel for one event when I come to Scotland I try to use that time wisely and be cognisant of travel costs and the carbon perspective so I’ll spend a bit of time in the Aberdeen office, in our Glasgow office and Edinburgh office – and do whatever else might add value during that week. I can’t keep improving the business without knowing how our people are generally feeling and getting feedback from our clients.”

AtkinsRéalis is, he adds, a global consultancy but one very much focused on local delivery. “We pride ourselves in making sure our local teams have access to the best-in-class tools when it comes to digital advancements, people and experience. Our clients can expect the same results if we build an academic, research or business institute for a university in the south-west of England or a similar project in Edinburgh, where we opened a new office last year.”



Construction Leader: AtkinsRéalis' James Butler on the global company making a local impact

Edinburgh Futures Institute

“We want to make sure we’re sharing that best practice, meaning our clients can get the benefit of us being able to construct in a more affordable way and delivering a better-quality building at the end of it. And we ensure we do that without losing the local focus that our people and our clients really value,” he says.

A good example of this is the new Edinburgh Futures Institute, delivered via SCAPE Scotland – a not-for-profit organisation providing procurement frameworks to enable public sector organisations to deliver its projects. In the two years since being appointed as its sole partner on the Consultancy Built Environment framework, AtkinsRéalis is well on the way to completing 100 projects, each one aimed at delivering substantial social impact.

“The relationship with SCAPE has been very positive and enduring. I came across them quite early in my career and it’s one of the first frameworks that we have supported across the whole of the UK, alongside other national frameworks such as Pagabo and CCS. It’s an illustration of how successful construction relies on collaboration and being able to work with the client to develop a brief,” says Butler.



“That ensures we can provide service at the right price point and deliver great value to them – and when they haven’t time or it isn’t appropriate to go through a full-scale procurement, we can do the hard work for them. We’re in the fortunate position as a business in having lots of great routes and excellent procurement vehicles to serve clients.”

Construction Leader: AtkinsRéalis' James Butler on the global company making a local impact

Edinburgh Futures Institute

Butler first took a degree in engineering then worked for a pharmaceutical company but says: “I’d also always had a bit of a passion for construction and developing property and whenever I’d walk past a construction site, I’d stop to look and think about how it was working and what they were doing and had a great interest in that.”

After applying for some graduate schemes, the then Faithful+Gould was the first to offer him a place and supported him through a part-time master’s degree in construction management and his APC (Assessment of Professional Competence) to become a chartered building surveyor.



After regional roles in London and the south east, that turned into a UK and Ireland-wide role during which time Faithful+Gould doubled in size in three years.

“I love being part of a growing businesses, not just for the financial benefits of satisfying shareholders – though that’s obviously important – but more because of the impact it has on the people as you tend to be promoting them, recruiting more people and presenting more opportunities and more diverse experiences for people in a growing business. And in a company this size I can say that there are thousands of good roles they could be stepping up into it at some point.

“I have a passion for that, which may have come from the continuous improvement work that I did during my placement and I guess that’s why I’m out and about regularly, because I genuinely have the view that you can’t help to improve things if you’re not close to people and understand the challenges they have – trying to find the solutions.”

Construction Leader: AtkinsRéalis' James Butler on the global company making a local impact

The company has, he says, enjoyed steady growth over the past few years in Scotland. “We absolutely want that to continue and it’s largely in response to the size of the market and the amount of work that’s out there and that we can secure. So long as the pipeline continues to be strong, we will continue to look to grow and create exciting jobs for people in Scotland in the future.”

He recalls taking special pleasure in attending some recent school openings. “Sitting there you see the quality of the space that’s been built and realise that tens of thousands of young people will go through that school during its lifetime, probably learning more than they would have done in a less modern environment and with the potential to go on to do great things.

“My proudest moments when I was delivering projects was small housing schemes, where we were working with local authorities that hadn’t done anything of that type for decades.

“There was a particular one where I knew the standard of living the people had previously and the difference it made for them through moving into a pleasant, efficient and safe environment. Seeing those outcomes that we can achieve for people and the potential it provides is exciting.”

TSX futures rise on higher oil, gold prices

(Reuters) -Futures for Canada’s main stock index rose on Tuesday, bouncing back after the index tumbled in the previous session, boosted by gains in commodity prices.

June futures on the S&P/TSX index were up 1% at 7.23 a.m. ET (1123 GMT).

The Toronto Stock Exchange fell on Monday, snapping its five-day winning streak, as investors were jittery after U.S. President Donald Trump’s scathing attack on Federal Reserve Chair Jerome Powell for not cutting interest rates.

The President called Powell a “major loser” in a social media post on Monday, which raised concerns about the independence of the central bank.

In commodities, gold prices continued their record run and briefly broke above $3,500 per ounce to an all-time high on Tuesday.

Oil prices also rose as investors took advantage of the previous day’s losses to cover short positions.

Back home, Prime Minister Mark Carney, ahead in polls in the run-up to an April 28 election, renewed calls on Monday for voters to give him a strong mandate to deal with U.S. President Donald Trump’s tariff threats.

On the economic front, Canadian retail sales data later this week will offer insights into consumer spending patterns amid the uncertainty around U.S. tariffs.

In corporate news, a U.S. appeals court on Monday revived a proposed data privacy class action against Canadian e-commerce giant Shopify.

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(Reporting by Ragini Mathur; Editing by Sahal Muhammed)

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TSX falls as Trump’s Fed criticism shakes markets

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.

FireFly Metals appoints Jessie Liu-Ernsting as Chief Corporate…

FireFly Metals Ltd has appointed highly experienced Jessie Liu-Ernsting as chief corporate development officer, further strengthening its executive team as it advances its Green Bay Copper-Gold Project in Canada.

Read more: FireFly Metals launches major drill push at fully funded Green Bay copper-gold mine

Based in Toronto, Liu-Ernsting brings extensive experience in investor relations and is a qualified professional engineer. She will lead the company’s strategic and corporate development initiatives as well as investor engagement, commencing in the role from mid to late May 2025.

Her appointment follows FireFly’s recent dual listing on the Toronto Stock Exchange – a significant step in broadening its presence among North American investors.

“We continue to create substantial shareholder value with our strategy to grow and upgrade the resource while doing the mining studies associated with a production re-start,” FireFly managing director Steve Parsons said.

“Given the clear appetite among North American investors for copper and gold projects in their region, we believe there is a big opportunity to grow FireFly’s profile in this community.

“Jessie’s experience in North American capital markets will help ensure we establish a strong connection between FireFly and North American investors.”

FireFly’s new corporate development chief brings deep investor relations and mining finance experience

Jessie Liu-Ernsting was previously vice president, investor relations and communications at G Mining Ventures Corp. (TSX: GMIN), a TSX Venture 50™ and OTCQX Best 50 company. During her tenure, she formed part of the leadership team that drove a 600% increase in the company’s share price, growing its market capitalisation to C$4.7 billion.

Jessie Liu-Ernsting has been appointed as chief corporate development officer at Firefly.

In her role, Liu-Ernsting developed and led GMIN’s inaugural investor relations program, which significantly enhanced investor engagement and market visibility. She played a key role in securing the US$481 million Tocantinzinho project financing package in 2022, comprising gold streaming, equity, debt, and equipment financing—despite prevailing market challenges. In 2024, she also contributed to the successful completion of GMIN’s C$875 million merger with Reunion Gold, which was approved by shareholders.

Prior to GMIN, Liu-Ernsting served as the inaugural Vice President of Corporate Development and Investor Relations at a junior mining company, where she oversaw a 14-fold increase in share price and facilitated capital raisings totalling A$33 million during the COVID-19 pandemic. She previously assisted another publicly listed mining company in reaching a settlement over a contested proxy vote.

Earlier in her career, Liu-Ernsting was an investment manager at Resource Capital Funds, where she was responsible for sourcing, evaluating, structuring, and managing investments in the natural resources sector. Her professional background also includes engineering roles with leading Canadian firms, working on backfill, mining, milling, and capital innovation projects.

Liu-Ernsting currently serves as a director of the Prospectors & Developers Association of Canada (PDAC). She has stepped down from her board position at FireFly Metals to take on her new role, and the company is now conducting a search for a new independent non-executive director.

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