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TSX ends down 0.1%, at 25,534.49
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Communication services fall 3%
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Lightspeed tumbles 12.9% after revenue miss
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Great-West Lifeco ( GWLIF ) jumps 10.4%
(Updates at market close)
By Fergal Smith
Feb 6 (Reuters) - Canada's main stock index closed lower
on Thursday, weighed by declines for the shares of energy,
technology and some major communication companies as investors
digested some mixed corporate earnings reports.
The S&P/TSX composite index ended down 35.35
points, or 0.1%, at 25,534.49, giving back some of its gains
over the past two sessions.
"We are still in a period where headline volatility is
triggering some uncertainty but at the same time the fundamental
backdrop remains supportive," said Angelo Kourkafas, senior
investment strategist at Edward Jones.
"The focus will remain on trade uncertainty but also
corporate profits as we're in the thick of earnings season."
The communications services sector lost 3%, with BCE Inc ( BCEXF )
down 6.1% after its quarterly earnings missed
estimates. Rogers Communications Inc ( RCIAF ) ended 6.7% lower.
Shares of Lightspeed Commerce Inc ( LSPD ) tumbled 12.9% as
the payments software firm missed quarterly revenue expectations
and said it has completed its strategic review process and
decided to remain a public company.
Technology was down 1.8%, while real estate ended 1.4%
lower, weighed by a decline of 6.7% for the shares of Colliers
International Group Inc. ( CIGI ) The real estate services firm
missed quarterly earnings estimates.
Planemaker Bombardier Inc beat profit estimates,
while it delayed its 2025 forecast citing uncertainty related to
U.S. trade tariffs. The company's shares were down 5.7%.
Energy fell 1.2% as the price of oil settled 0.6% lower at
$70.61 a barrel but heavily weighted financials notched gains,
with shares of Great-West Lifeco Inc ( GWLIF ) jumping 10.4%
after the company's quarterly results.
Industrials also ended higher, helped by a gain of 6.6% for
the shares of Thomson Reuters Corp ( TRI ) as the company
forecast a pickup in underlying revenue growth over this year
and next as it continues to invest in AI-driven products.