Latest news with #MariaSolovieva
Mint
11 hours ago
- Business
- Mint
TSX ends largely flat for the week as market shows resilience
TSX ends down 0.03% at 26,497.57 Advance estimate shows retail sales down 1.1% in May Technology sector declines 0.5% Two sectors end higher, including financials June 20 - Canada's main stock index was barely changed on Friday, holding near its recent record high, as investors assessed developments in the Middle East conflict and domestic data that showed signs of an economic slowdown. The S&P/TSX composite index ended down 8.43 points, or 0.03%, at 26,497.57, extending its sideways pattern since notching a record closing high on June 12. For the week, the index was also down 0.03%. "The fundamental theme is one of market resilience," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth. "We have a lot of moving parts. You've got geopolitical risk, you've got trade talks, you've got central bank action - a host of elements which make it difficult to predict where we'll be in the second half of the year and yet investor sentiment is still leaning towards risk-on, still concerned about the fear of missing out rather than encountering a sudden downside." Canada's retail sales were up in April on a monthly basis but were below estimates, while advanced data showed a drop of 1.1% in May. "The advance estimate sets a somber tone for the second quarter," Maria Solovieva, an economist at TD Economics, said in a note. "In addition, our internal credit and debit card spending data shows a meaningful softening in spending through May, suggesting that consumers tightened their purse strings." The technology sector fell 0.5%, with technology consulting company CGI Inc down 2.1%. Consumer staples was also a drag, losing 0.5%. Ltd is weighing options to expand production of germanium, a strategic metal key to chipmaking, and is currently talking with governments, including Canada and the United States, on available funding, the company told Reuters. Shares of Teck were down 1.2%. Just two of the 10 major sectors ended higher but they included financials, the most heavily weighted sector. It added 0.1%. This article was generated from an automated news agency feed without modifications to text.
Hamilton Spectator
25-04-2025
- Business
- Hamilton Spectator
Statistics Canada says retail sales fell 0.4 per cent to $69.3B in February
OTTAWA - Retail sales dropped 0.4 per cent to $69.3 billion in February as sales fell at new car dealers, Statistics Canada said Friday. However, the agency said its early estimate for March suggested an increase of 0.7 per cent for that month, though it cautioned the figure would be revised. TD Bank economist Maria Solovieva said the bounce back in March was driven by Canadians pulling forward major purchases and stockpiling non-discretionary items ahead of incoming tariffs, so the rebound is expected to be short-lived. 'Consumers remain wary and may curb spending further until there is more certainty around employment, income prospects and inflation,' Solovieva wrote in a report. 'The Bank of Canada's latest consumer survey suggests that the negative sentiment in response to tariff-related fears has surpassed even that experienced during the pandemic, leading households to revise down their overall spending plans.' The Bank of Canada held its key interest rate steady earlier this month as governor Tiff Macklem said the changing trade picture has made producing accurate economic forecasts 'challenging.' The central bank's key policy interest rate is 2.75 per cent. Statistics Canada said Friday retail sales in February were lower in four of nine subsectors it tracks, with sales at motor vehicle and parts dealers down 2.6 per cent, including a three per cent drop at new car dealers. However, core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — rose 0.5 per cent. The increase in core sales came as sales at food and beverage retailers gained 2.8 per cent while sales at supermarkets and other grocery retailers, except convenience retailers, gained 3.7 per cent. Wine and liquor retailer sales rose 2.3 per cent. Sales at general merchandise retailers gained 1.2 per cent, while furniture, home furnishings, electronics and appliances retailers dropped 2.9 per cent. In volume terms, overall retail sales fell 0.4 per cent in February. This report by The Canadian Press was first published April 25, 2025.
Yahoo
25-04-2025
- Business
- Yahoo
Statistics Canada says retail sales fell 0.4 per cent to $69.3B in February
OTTAWA — Retail sales dropped 0.4 per cent to $69.3 billion in February as sales fell at new car dealers, Statistics Canada said Friday. However, the agency said its early estimate for March suggested an increase of 0.7 per cent for that month, though it cautioned the figure would be revised. TD Bank economist Maria Solovieva said the bounce back in March was driven by Canadians pulling forward major purchases and stockpiling non-discretionary items ahead of incoming tariffs, so the rebound is expected to be short-lived. "Consumers remain wary and may curb spending further until there is more certainty around employment, income prospects and inflation," Solovieva wrote in a report. "The Bank of Canada's latest consumer survey suggests that the negative sentiment in response to tariff-related fears has surpassed even that experienced during the pandemic, leading households to revise down their overall spending plans." The Bank of Canada held its key interest rate steady earlier this month as governor Tiff Macklem said the changing trade picture has made producing accurate economic forecasts "challenging." The central bank's key policy interest rate is 2.75 per cent. Statistics Canada said Friday retail sales in February were lower in four of nine subsectors it tracks, with sales at motor vehicle and parts dealers down 2.6 per cent, including a three per cent drop at new car dealers. However, core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — rose 0.5 per cent. The increase in core sales came as sales at food and beverage retailers gained 2.8 per cent while sales at supermarkets and other grocery retailers, except convenience retailers, gained 3.7 per cent. Wine and liquor retailer sales rose 2.3 per cent. Sales at general merchandise retailers gained 1.2 per cent, while furniture, home furnishings, electronics and appliances retailers dropped 2.9 per cent. In volume terms, overall retail sales fell 0.4 per cent in February. This report by The Canadian Press was first published April 25, 2025. The Canadian Press Sign in to access your portfolio
