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CANADA STOCKS-TSX ends lower as communication company shares slide
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CANADA STOCKS-TSX ends lower as communication company shares slide
Feb 6, 2025 1:48 PM

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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.

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