Latest news with #TorontoStockExchange
Mint
3 days ago
- Business
- Mint
TSX posts biggest monthly gain since November as political risk potentially peaks
TSX ends down 0.1% at 26,175.05 For the month, the index gains 5.4% First-quarter GDP increases 2.2% May 30 - Canada's main stock index edged lower on Friday as energy and metal mining shares lost ground, but the index still posted its biggest monthly advance since November, helped by easing global trade tensions. The Toronto Stock Exchange's S&P/TSX composite index ended down 35.51 points, or 0.1%, at 26,175.05, its second straight day of declines after posting a record closing high on Wednesday. For May, the index was up 5.4%. "I wouldn't be surprised to see some consolidation after a big run, but intermediate-term the path of least resistance is up," said Joseph Abramson, co-chief investment officer at Northland Wealth Management. "I think that political risk has peaked in terms of tariffs." The U.S. has suspended in recent weeks some of the sweeping tariffs it has imposed on goods from other countries, while Canada's economy has fared better during the first few months of the global trade war than some economists had expected. Canadian gross domestic product increased at an annualized rate of 2.2% in the first quarter, beating estimates for a gain of 1.7%. The energy sector fell 1.8% on Friday as the price of oil settled 0.25% lower at $60.79 a barrel and after oil sands company MEG Energy said it evacuated all nonessential workers from its Christina Lake production facility in northern Alberta due to wildfires burning in the area. The company's shares ended 2.8% lower. The materials group, which includes metal mining shares, also lost ground as the price of gold dipped. Heavily weighted financials added 0.2%, and were up 1.3% for the week in which Canada's biggest banks reported quarterly earnings. This article was generated from an automated news agency feed without modifications to text.
Business Recorder
3 days ago
- Business
- Business Recorder
TSX slips as Trump says China violated tariff agreement
Canada's main stock index slipped on Friday, as trade worries over U.S. President Donald Trump's accusation in a social media post of China violating a tariff agreement offset positive sentiments about domestic economic growth. 'China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!,' Trump said on his Truth Social platform. The Toronto Stock Exchange's S&P/TSX composite index was down 0.3% at 26,133.45 points. However, for the week, the index was up 1.2%. Global equities had initially rallied in the previous session, after the Court of International Trade ruled late on Wednesday to effectively block most levies imposed since January. However, a U.S. federal appeals court temporarily reinstated Trump's tariffs on Thursday, to consider the government's appeal. 'People who were expecting to see some clarity in the market are going to be somewhat disappointed', said Michael Sprung, president at Sprung Investment Management. 'When Trump says China has violated any sort of agreement the whole premise might be that he might do something retaliatory, which is going to be inflationary and harmful.' Data showed, Canada's economy grew faster than expected in the first quarter. But an increase in imports that led to inventory build-up, lower household spending and weaker final domestic demand showed that the economy was battling on the domestic front. Economists have warned that as tariffs continue on Canada, this trend will persist. This comes ahead of the Bank of Canada's rates decision next week. The market sees a 22% chance of a rate cut next week, down from 27% before GDP data. The TSX has gained 5.4% so far in May and was set for its best month in six, boosted by investor optimism on easing of the global trade war earlier this month. South of the border, U.S. consumer spending increased marginally in April as a rush to beat higher prices from import duties slowed. On TSX, energy subindex fell 1.3% as oil prices headed for a second consecutive weekly loss. Healthcare stocks fell 1.7%.
Yahoo
4 days ago
- Business
- Yahoo
ETF Express Closes the Market
Toronto, Ontario--(Newsfile Corp. - May 29, 2025) - Beverly Chandler, Managing Editor, ETF Express, joined Graham MacKenzie, Managing Director, Exchange Traded Products, Toronto Stock Exchange (TSX), and the winners of the 2025 Canadian ETF Express Awards to close the market. Cannot view this video? Visit: The popular ETF Express ETF awards' series launched in Europe in 2010, expanded to the US in 2019 and 2025 will be the third year that the awards will be presented to Canadian ETF industry participants. This year the event is being hosted by the Toronto Stock Exchange, home of the world's first ETF. The ETF issuer awards are based on data from ETF Express's data partner, Trackinsight, while the ETF service provider awards are based on a nomination process. Both issuers and service providers are then put through a qualitative process of peer voting which results in the firms with the most votes winning the awards. Beverly Chandler, managing editor, ETF Express, says: "Many congratulations to our winning firms this year in this celebration of the vibrant ETF industry in Canada." MEDIA CONTACT:Beverly ChandlerManaging EditorETF To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Mainstreet Equity Corp. (MEQ) Opens the Market
Toronto, Ontario--(Newsfile Corp. - May 29, 2025) - Bob Dhillon, Founder and Chief Executive Officer, Mainstreet Equity Corp. (TSX: MEQ) ("Mainstreet" or the "Company") and his team, joined Omar Khafagy, Head, Client Success, Toronto Stock Exchange ("TSX") and TSX Venture Exchange ("TSXV"), to open the market to celebrate the Company's 25th listing anniversary on Toronto Stock Exchange. Cannot view this video? Visit: Mainstreet Equity Corp. is a Canadian real estate company headquartered in Calgary, specializing in the acquisition, renovation, and management of mid-market rental apartment buildings across Western Canada. With a portfolio of over 18,600 residential units in British Columbia, Alberta, Saskatchewan, and Manitoba, Mainstreet offers a range of townhomes, garden-style apartments, mid-rise, and high-rise properties, many located near universities and urban centres. Since being listed on the TSX in 2000, Mainstreet has pursued a value-add business model focused on transforming underperforming assets into high-quality, affordable rental housing. Its clustering strategy across inner-city platforms drives operating efficiency, cost control, and tenant satisfaction, while positioning the company to benefit from emerging zoning and density changes that could enhance the valuation of its asset base. Led by Founder, President and CEO Bob Dhillon, Mainstreet has consistently delivered strong shareholder returns, including 14 consecutive quarters of double-digit growth as of Q2 2025. The company remains committed to sustainable operations, community development, and accessible housing solutions, improving the lives of middle-class Canadians in high-demand rental markets. MEDIA CONTACT: Melony JamiesonGet it Done melony@ To view the source version of this press release, please visit 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
5 days ago
- Business
- Yahoo
Montage Gold Corp. (MAU) Opens the Market
Toronto, Ontario--(Newsfile Corp. - May 28, 2025) - Martino De Ciccio, Chief Executive Officer, Montage Gold Corp. (TSX: MAU) ("Montage Gold" or the "Company"), and his team joined Dean McPherson, Head, Business Development, Global Mining, Toronto Stock Exchange (TSX), to open the market to celebrate the Company's graduation to Toronto Stock Exchange. Cannot view this video? Visit: Montage Gold Corp. is focused on becoming a premier African gold producer, with its flagship Koné project, located in Côte d'Ivoire, at the forefront. Based on an updated Feasibility Study published in 2024, the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years. Construction at Koné is well underway and is expected to enter production in Q2-2027. Montage continues to unlock value through exploration and de-risking the construction of the Konė project. MEDIA CONTACT: John Vincic Oakstrom Advisors john@ +1-647-402-6375 To view the source version of this press release, please visit Sign in to access your portfolio
