S&P/TSX composite and U.S. stock markets move higher
TORONTO - Canada's main stock index edged up and U.S. markets climbed as investors tried to tune out the latest noise from U.S. President Donald Trump's tariff war.
The S&P/TSX composite rose 37.68 points at 26,426.64.
In New York, the Dow Jones industrial average was up 214.16 points at 42,519.64. The S&P 500 index was up 34.43 points at 5,970.37, while the Nasdaq composite was up 156.34 points at 19,398.96.
The Canadian dollar closed at 72.87 cents US compared with 72.96 cents US on Monday.
The July crude oil contract was up 89 cents US at US$63.41 per barrel and the July natural gas contract was up three cents US at US$3.72 per mmBTU.
The August gold contract was down US$20.10 at US$3,377.10 an ounce and the July copper contract was down two cents US at US$4.83 a pound.
This report by The Canadian Press was first published June 3, 2025.
Companies in this story: (TSX: GSPTSE, TSX: CADUSD)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 minutes ago
- Yahoo
One in 10 cars sold in Britain are Chinese
Nearly one in 10 cars sold in Britain are now Chinese-made as drivers turn away from Tesla and embrace newer manufacturers such as BYD. Chinese-owned brands had a 9.4pc share of Britain's new car market last month, according to the Society for Motor Manufacturers and Traders (SMMT), up from 7.7pc in April. The surge saw BYD's sales alone quintuple to 3,025 cars – about 1,000 more than US rival Tesla sold. BYD recently launched its Dolphin Surf car in the UK with a starting price of £16,000, compared to an average of about £49,000 for new EVs. Some analysts have speculated that Chinese brands could still cut prices further, with the Dolphin Surf – known as the Seagull in Asia – selling for just 56,800 yuan (£5,800) in its home market. Other Chinese carmakers saw similarly strong growth. Geely-owned Polestar increased sales by more than 270pc to 1,174 vehicles, while Chery's Omoda and Jaecoo brands sold a combined 3,000 cars, having not been in the market a year ago. SAIC Motor-owned MG remained the biggest-selling Chinese brand, shifting 6,625 cars in May, but its sales were down 8.3pc compared to the same month in 2024. Chinese brands have made major inroads in recent years, particularly in the electric segment where they have launched some of the cheapest models available. Manufacturers have undercut Western rivals including Tesla, which has struggled to stem a steep sales decline in Europe partly driven by a political backlash linked to Elon Musk's support of Donald Trump. Tesla sales in the UK fell by 36pc in May compared to a year earlier. It came as the overall market returned to growth, with sales rising 1.6pc to 150,070 in May, SMMT said. Sales of EVs surged 25.8pc to 32,738 in May, with electric vehicles (EV) taking a 21.8pc market share overall. However, the SMMT warned that the EV market was gripped by 'unsustainable' discounting as manufacturers scramble to hit the Government's ZEV mandate sales targets. Under the mandate, 28pc of cars sold must be electric this year, a target that rises steadily to 80pc by 2030, although the real requirement is lower in reality because of 'flexibilities' afforded to companies under the scheme. Sales of petrol and diesel cars tumbled 12.5pc and 15.5pc respectively last month. Carmakers are calling on the Government to boost demand for EVs through tax breaks or grants for drivers. Mike Hawes, the chief executive of the SMMT, said: 'A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. 'This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport. 'Next week's spending review is the opportunity for Government to double-down on its commitments to net zero by driving demand through fiscal measures that boost the market and shore up our competitiveness.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 minutes ago
- Yahoo
Factbox-UK Market Exodus: Companies that have moved away from a London listing
(Reuters) -British money transfer firm Wise became the latest UK listed firm on Thursday to say that it intends to move its primary listing to the U.S. from London. A growing number of companies have shelved or shifted plans to list in London, due to investor pushback and Brexit-related challenges that have pressured UK market valuations. Instead, they have opted for the U.S. and other markets, where they see stronger appetite and higher valuations. Cobalt: The Glencore-backed metals investor scrapped its plans for a London IPO on Wednesday, which, according to one source, was driven by a lack of demand. The company, valued at around $230 million, would have seen London's largest market debut since Air Astana's listing in February 2024. Indivior: The drugmaker said on Monday it will cancel its secondary listing on the London Stock Exchange effective July 25, citing cost savings and a desire to align more closely with its U.S.-focused operations. The 1.25 billion pound ($1.70 billion) pharmaceutical firm will retain its primary listing on the Nasdaq. BHP: The world's largest miner by market value ($125.10 billion) made Australia its primary stock market when it ended its dual-listing structure in 2021. The company was the second largest by market value in London when it left the stock market. Unilever: The Ben & Jerry's maker in February picked Amsterdam as the primary listing for its ice cream business. The business, which generated a turnover of 8.3 billion euros ($9.47 billion) in 2024, will have secondary listings in London and New York. Glencore: The Swiss miner said in February it was considering moving its primary listing from London. The company, with a market value of 34.5 billion pounds, said New York was at the top of the list under consideration. Shein: The online fast fashion retailer is working towards a listing in Hong Kong after its proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, three sources with knowledge of the matter told Reuters in May. However, before its attempt to list in London, Shein had pursued a listing in New York, as part of its efforts to gain legitimacy as a global, rather than a Chinese company, and access to a wide pool of large Western investors. Ashtead: The second-largest equipment rental company in the U.S. said in December it plans to shift its listing to New York. With a market value of 18.3 billion pounds, Ashtead has been listed in London since 1986, and transformed into a major U.S. player in the early 2000s. Just Eat Takeaway: The Amsterdam-listed food delivery company delisted from the London Stock Exchange in December, citing efforts to reduce administrative and regulatory costs. The company has a market value of 4.05 billion euros. Flutter Entertainment: The FanDuel-owner in 2024 moved its primary listing to the New York Stock Exchange (NYSE), just a few months after it added a secondary listing in the US. CRH: The building materials solutions provider, which has $61.29 billion in market value, switched its primary listing to the NYSE in 2023, while maintaining a standard listing on the London Stock Exchange. Arm Holdings: The UK-based chip designer chose Nasdaq over London for its 2023 IPO — the largest of that year. The company, now valued at just over $138 billion, was previously listed in London for 18 years till 2016, when it was taken private by SoftBank in a $32 billion acquisition. ($1 = 0.8763 euros) ($1 = 0.7355 pounds) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
11 minutes ago
- Bloomberg
Why the ‘TACO' Trade Is Tempting Investors Amid US-China Talks
On May 30, US President Donald Trump accused his Chinese counterpart, President Xi Jinping, of breaking a trade truce that brought down tariffs from extreme highs in early May. Investors saw the writing on the wall: tariffs would spike again, hurting the economy. Stocks fell more than 1%. But later the same day, Trump said he'd have a conversation with Xi, and optimism – and stock prices – were restored. When the call finally happened on June 5, the S&P 500 Index again briefly surged. The early months of Trump's second term have been marked by this pattern: The president threatens to impose sky-high tariffs and stocks tumble, then he relents and markets recover. Wall Street has learned to capitalize on this by buying into the S&P 500 when it first drops, anticipating the president will backtrack on tariffs and send markets higher.
