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CANADA STOCKS-TSX ends lower as metal mining shares slide
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CANADA STOCKS-TSX ends lower as metal mining shares slide
Feb 11, 2025 1:56 PM

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TSX ends down 0.1% at 25,631.83

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Materials group loses 1.8%

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Gold and copper prices fall

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Energy adds 1.3%; oil settles up 1.4%

(Updates at market close)

By Ragini Mathur and Fergal Smith

Feb 11 (Reuters) - Canada's main stock index edged lower

on Tuesday as lower metal prices weighed on the materials sector

and new U.S. trade tariffs risked escalating a global trade war.

The S&P/TSX composite index ended down 27.03

points, or 0.1%, at 25,631.83, giving back some of the previous

day's gains.

U.S. President Donald Trump raised tariffs on steel and

aluminum imports on Monday to a flat 25% without exceptions,

while also promising to announce global reciprocal tariffs this

week.

"Canada exports a lot of steel, aluminum to the United

States, so this is sort of another reescalation of the trade and

tariff wars that flared up a week or 10 days ago," said Brian

Madden, chief investment officer at First Avenue Investment

Counsel.

The materials group, which includes fertilizer companies and

metal mining shares, declined 1.8% as copper prices fell

and gold pulled back from a record high.

Real estate was down 1% as bond yields climbed. U.S. Federal

Reserve Chair Jerome Powell said the central bank is not in a

rush to cut interest rates.

Shopify Inc ( SHOP ) ended 2.9% higher. The e-commerce

company posted its best quarterly revenue growth in three years

as healthy consumer spending and the firm's efforts to load its

platform with AI features for sellers helped drive strong

holiday sales.

Energy also notched gains, ending up 1.3%. The price of oil

settled 1.4% higher at $73.32 a barrel as sanctions

raised concerns about Russian and Iranian oil supplies.

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