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Business Recorder
12-05-2025
- Business
- Business Recorder
TSX gains on US-China tariff agreement
Canada's main stock index rose on Monday as the United States and China reached a deal to reduce tariffs, boosting investor optimism and easing fears of an all-out trade war disrupting global markets. The Toronto Stock Exchange's S&P/TSX composite index rose 0.7% at 25,531.01 points, tracking gains in U.S. peers. The index hit over a three-month high earlier in the session. The two biggest economies announced on Monday that the U.S. will cut the extra tariffs it imposed on Chinese imports in April to 30% from 145%, while Chinese duties on U.S. imports will reduce to 10% from 125%. The new measures will be effective for 90 days. 'Canadian markets can benefit from the big easing in trade tensions (as) it shows that the tariff war may be able to get resolved more quickly than people had previously thought', said Colin Cieszynski, chief market strategist at SIA Wealth Management. The U.S.-Sino deal comes days after a U.S.-UK limited trade agreement, easing fears that U.S. President Donald Trump's reciprocal tariffs announced on April 2 would roil global trade and spark a worldwide recession. Back home, Canadian Prime Minister Mark Carney's new cabinet will be sworn in on Tuesday. On TSX, energy stocks gained 3.1%, tracking a jump in oil prices, while information and technology stocks advanced 4.1%. On the flip side, mining stocks fell nearly 4% after safe-haven gold fell more than 2%. Pan American Silver fell 14.1% after the miner plans to acquire MAG Silver Corp in a transaction that values the silver mining company at about $2.1 billion. Conversely, MAG Silver rose 7.2%. Hudbay Minerals jumped 8.8% after the miner beat first-quarter profit and revenue estimates. Shares also rose on the back of higher copper prices.
Reuters
12-05-2025
- Business
- Reuters
TSX gains on US-China tariff agreement
May 12 (Reuters) - Canada's main stock index rose on Monday as the United States and China reached a deal to reduce tariffs, boosting investor optimism and easing fears of an all-out trade war disrupting global markets. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab rose 0.7% at 25,531.01 points, tracking gains in U.S. peers. The index hit over a three-month high earlier in the session. The two biggest economies announced on Monday that the U.S. will cut the extra tariffs it imposed on Chinese imports in April to 30% from 145%, while Chinese duties on U.S. imports will reduce to 10% from 125%. The new measures will be effective for 90 days. "Canadian markets can benefit from the big easing in trade tensions (as) it shows that the tariff war may be able to get resolved more quickly than people had previously thought", said Colin Cieszynski, chief market strategist at SIA Wealth Management. The U.S.-Sino deal comes days after a U.S.-UK limited trade agreement, easing fears that U.S. President Donald Trump's reciprocal tariffs announced on April 2 would roil global trade and spark a worldwide recession. Back home, Canadian Prime Minister Mark Carney's new cabinet will be sworn in on Tuesday. On TSX, energy (.SPTTEN), opens new tab stocks gained 3.1%, tracking a jump in oil prices, while information and technology stocks (.SPTTTK), opens new tab advanced 4.1%. On the flip side, mining stocks (.GSPTTMT), opens new tab fell nearly 4% after safe-haven gold fell more than 2%. Pan American Silver ( opens new tab fell 14.1% after the miner plans to acquire MAG Silver Corp ( opens new tab in a transaction that values the silver mining company at about $2.1 billion. Conversely, MAG Silver rose 7.2%. Hudbay Minerals ( opens new tab jumped 8.8% after the miner beat first-quarter profit and revenue estimates. Shares also rose on the back of higher copper prices.
Bloomberg
10-04-2025
- Business
- Bloomberg
Asia Joins Wall Street Celebration of Trump's Tariff Pause
Asian stock markets surged, joining Wall Street's celebration of a 90-day pause in tariffs by President Donald Trump. Japan's Topix Index jumped 8% while shares in Taiwan, particularly dependent on tech exports to the US, surged over 9%. Treasuries rallied after a tumultuous session. Even in China, excluded from the tariff reprieve and hit with an even bigger hike in duties, stocks rose on expectations for Beijing to implement more stimulus measures. Yet there are also signs the euphoria may soon fade. Oil prices reversed their earlier gains, with Brent below $65 a barrel as investors turned their attention to the likely impact of US-China trade tensions on global energy demand. 'The market seems to be treating this like it's over and I'm not convinced it's over yet,' said Colin Cieszynski, chief market strategist at SIA Wealth Management. Andy Sieg, Citi's head of global wealth, warned that clients should stay cautious. 'Don't chase this, don't buy the dip,' he said.
Yahoo
13-03-2025
- Business
- Yahoo
Toronto stocks slip as tariff jitters keep investors on edge
By Nikhil Sharma (Reuters) - Canada's main stock index edged down on Thursday in volatile trading, as investors remained risk-averse amid an intensifying trade war with the United States. The Toronto Stock Exchange's S&P/TSX composite index was down 0.1% at 24,394.32. Information technology led the declines, falling 2.1% to a four-month low. The sub-index has dropped 17.6% from its record peak a month ago. Consumer staples and healthcare shed 1.2% each. "It's still a very volatile situation and things could change quite rapidly," said Colin Cieszynski, chief market strategist at SIA Wealth Management, adding the "trade war with the U.S. is a huge risk to Canada", which is being reflected in the equities. U.S. President Donald Trump's wavering trade policies have triggered a global trade war, rattling investors, consumers and business confidence, while increasing recession risks for the United States as well as for Canada. The Bank of Canada, which delivered a 25-basis point interest rate cut on Wednesday, also raised concerns about inflationary pressures and weaker growth stemming from tariff uncertainties. Further adding pressures on equities, the Canadian 10-year benchmark yield jumped five basis points at 3.130%. Wall Street's benchmark S&P 500 lost 0.7% on Thursday, primarily hit by Trump's rhetoric to impose a 200% tariff on all wines and other alcoholic products from the European Union. Trump on Wednesday also threatened to impose additional tariffs on EU goods, as major U.S. trading partners vowed to retaliate against the trade barriers already erected by the U.S. president. The materials index, however, added 1.4% due to gold prices trading at a near all-time high. Latest U.S. trade policies have helped gold, an asset preferred by investors amid geopolitical and economic turmoil, gain 12% so far this year. Birchcliff Energy jumped 12.5%, the biggest individual gainer on the TSX, after it updated its annual average production outlook.
Reuters
19-02-2025
- Business
- Reuters
Tech and financials drag TSX as investors assess tariff threats
Feb 19 (Reuters) - Canada's primary stock index fell on Wednesday, dragged by technology and financials, as investors evaluated U.S. President Donald Trump's threat of tariffs on automobiles, semiconductors and pharmaceutical products. At 10:03 a.m. ET (1503 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab was down 0.7% at 25,461.84. At least ten major sectors fell; the technology sector (.SPTTTK), opens new tab was the worst performer after dropping 1.6%. Financials (.SPTTFS), opens new tab, which has the heaviest weighting on the index, lost 0.9% and materials (.GSPTTMT), opens new tab declined 0.8%. The only sector trading in the green was energy (.SPTTEN), opens new tab, rising 0.6%, tracking crude oil prices bolstered by worries about potential supply disruptions in Russia and the U.S. "This isn't a decline that's specific to Canada today. It's part of a general pull back in global markets. Today's feels more like a day of consolidation, perhaps some profit-taking," said Colin Cieszynski, chief market strategist at SIA Wealth Management. On Tuesday, Trump said he intends to impose auto tariffs "in the neighborhood of 25%," along with similar duties on semiconductor and pharmaceutical imports. Since his inauguration just four weeks ago, Trump has enforced a 10% tariff on all imports from China, adding to the existing levies. He also declared a 25% tariff on goods from Mexico and non-energy imports from Canada, before suspending the levies for a month. On Wednesday, investors were awaiting minutes from the U.S. Federal Reserve's policy meeting, set for release at 2 p.m. ET. Among individual stocks, Loblaw ( opens new tab lost 1.1% after the retailer said it plans to invest C$2.2 billion ($1.55 billion) to renovate existing stores, open new ones and create about 8,000 jobs this year. Hudbay Minerals ( opens new tab slumped 13.5% after the copper miner posted lower fourth-quarter profit. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report CA/ Reuters global stocks poll for Canada , Canadian markets directory
