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CANADA STOCKS-TSX rises as investors eye opportunities after tariff reprieve
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CANADA STOCKS-TSX rises as investors eye opportunities after tariff reprieve
Feb 4, 2025 1:36 PM

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TSX ends up 0.2% at 25,279.35

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Energy group adds 1.1% as oil settles off lows

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Tech gains 1%, with Celestica ( CLS ) up 7.3%

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TMX Group ( TMXXF ) jumps 8.3% after earnings beat

(Updates at market close)

By Fergal Smith

Feb 4 (Reuters) - Canada's main stock index rose on

Tuesday, led by energy and technology shares, as investors took

advantage of a recent pullback in the market that was brought

about by the threat of U.S. trade tariffs.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 37.59 points, or 0.2%, at 25,279.35. That

followed two straight days of declines in volatile trading since

the index notched a record closing high on Thursday.

U.S. President Donald Trump suspended his threat of steep

tariffs on Mexico and Canada on Monday, agreeing to a 30-day

pause. The reprieve for Canada came after the market's close on

Monday.

"Canada is rebounding quite nicely today," said Kevin

Headland, co-chief investment strategist at Manulife Investment

Management.

"Many people were selling off in anticipation of the

uncertainty that tariffs might bring and now investors are

looking for some of the opportunities that the brief sell-off

might have presented."

The energy group was up 1.1%, helped by a gain of 4.4% for

the shares of Cenovus Energy ( CVE ). U.S. crude oil futures

settled down 0.6% at $72.70 a barrel but were well off

their lows for the day.

Technology rose 1%, helped by a gain of 7.3% for the shares

of Celestica Inc. ( CLS ) Consumer staples ended 0.8% higher,

with shares of dairy products producer Saputo Inc ( SAPIF )

adding nearly 2%.

TMX Group Ltd ( TMXXF ) was among the biggest advancers. Its

shares rose 8.3% as the stock exchange operator reported

fourth-quarter profit and revenue above estimates.

Despite the gains for TMX, heavily weighted financials fell

0.9%. Investors worry that lingering trade uncertainty could

weigh on the domestic economy.

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