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CANADA STOCKS-TSX ends near flat ahead of bank earnings reports
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CANADA STOCKS-TSX ends near flat ahead of bank earnings reports
Feb 24, 2025 1:51 PM

*

TSX ends up 0.02% at 25,151.26

*

Consumer staples sector adds 2.1%

*

Energy falls 0.9%

*

BMO, Scotiabank report on Tuesday

(Updates at market close)

By Ragini Mathur and Fergal Smith

Feb 24 (Reuters) - Canada's main stock index ended

nearly unchanged on Monday as investors awaited quarterly

earnings reports from the nations major banks, with gains for

consumer-related shares offsetting declines for energy.

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

ended up 4.23 points, or 0.02%, at 25,151.26, after

posting on Friday its biggest decline in two months and its

lowest closing level in five weeks.

Canada's big six banks are expected to build more credit

loss provisions as they brace for uncertainty surrounding the

U.S. tariff threat, analysts said, potentially weighing on first

quarter earnings and beyond.

The banks report later this week, starting with Bank of

Montreal ( BNKD ) and Bank of Nova Scotia ( BNS ) on Tuesday.

"It's very hard to say what the real objective of the new

U.S. administration is, whether it is really just something that

can be addressed from increasing border security," said Angelo

Kourkafas, an investment strategist at Edward Jones Investments.

The heavily weighed financials sector was barely changed but

the consumer staples sector climbed 2.1%, with shares of food

retail Metro Inc ( MTRAF ) adding 3.1%.

Consumer discretionary advanced 1.7% and the materials

group, which includes fertilizer companies and metal mining

shares, was up 0.7% as the price of gold rose.

Shares of Equinox Gold Corp ( EQX ) edged 0.1% higher after

the company on Sunday said it would acquire all the outstanding

shares of Calibre Mining ( CXBMF ) in an all-stock deal. Calibre

Mining Corp ( CXBMF ) shares ended 3.9% lower.

The price of oil settled 0.4% higher at $70.70 a barrel as

investors awaited clarity on talks to end the war in Ukraine.

Still, energy was a drag, falling 0.9%.

Industrials and technology both lost 0.5%.

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