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CANADA STOCKS-TSX flat as investors assess mixed corporate earnings
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CANADA STOCKS-TSX flat as investors assess mixed corporate earnings
Feb 6, 2025 8:24 AM

(Updates with market opening prices)

By Ragini Mathur

Feb 6 (Reuters) - Canada's main stock index was little

changed amid choppy trading on Thursday, as investors evaluated

a mixed set of quarterly earnings from some of the major

domestic companies.

The S&P/TSX composite index was down 0.06% at

25,554.84.

Wall Street's main indexes, on the other hand, were

slightly higher as some upbeat results from large corporates

brought relief to investors awaiting U.S. President Donald

Trump's next move on trade restrictions and other federal

policies.

Canada's consumer discretionary sector rose 0.7%,

buoyed by a 3.6% rise in clothing company Aritzia's ( ATZAF )

shares.

Thomson Reuters' ( TRI ) shares climbed 6.4% to the top of

the TSX, after it reported higher fourth-quarter revenue and

issued 2025 organic revenue growth targets that could exceed the

rate in 2024.

"The companies that have reported results are probably

garnering the large share of investors' attention. It is the

most consequential thing that is impacting the TSX trades so far

today," said Brian Madden, chief investment officer at First

Avenue Investment Counsel.

The heavyweight financial sector added 0.6%,

boosted by a 7% rise in Great-West Lifeco's ( GWLIF ) shares

after TD Cowen upgraded the life insurer's ratings.

Combating overall gains, the capped communications

sector lost 2.7% after BCE shares fell 6.4%

following its dour annual profit forecast.

The real estate sector fell 1.3%, dragged down by Colliers

International's ( CIGI ) 7.2% fall after the firm missed

fourth-quarter profit estimates.

Among other major earnings, shares of parka maker Canada

Goose fell about 6% after the company missed quarterly

revenue estimates.

Shares of Bombardier were down 3.9% after the

plane maker delayed its 2025 forecast, citing uncertainty

related to Trump's tariffs.

On the data front, Canadian economic activity contracted for

the first time in five months in January as employment grew at a

slower pace and prices heated up.

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